A purchase and rehab loan is a short-term loan to add value to the property.

They scaled very quickly and short term property management is HARD.

Same with real estate - those that panic sold Spring 2020 would also now regret that decision.Having illiquid investments prevents investors from making emotional (short term knee jerk) decisions.The one property v multiple property issue cuts both ways.

I am primarily targeting short/mid-term rentals around the Shore.

If you don't like the idea of roommates, then a home with a separate entrance to the basement allows you to Airbnb or short-term rent a space. 

Where have you found the most accurate lead sources?

Try and keep this as short as possible.

The property also appears to be in an appreciating area, so selling and buy a cash flowing rental may not be the best option.Have you looked into ways to increase rent such as Mid-term of Short-term rental?

I use the money to invest where even my short term money is 9-12 percent.Look at putting the 1K/month into a SDIRA.

And definitely keep your “rejection” letter short and to the point.