I respectfuly disagree there are always people at your local REIA who have a lead on a few good none traditional lenders.

I forgot to add we have also about $6000 or so in a traditional savings account.

VRBO and Airbnb platforms make it pretty easy to self manage.Find a great cleaning company that can handle turnovers and be your eyes and ears and a handyman for small repairs and you are pretty much there.You can use sites like TAKL.com to find other services that you don't routinely need.

Purchase price will be between $50-75k.Question: What do people recommend - hard money lender or traditional mortgage?

Most of this is already in place, so the plan is to begin offering the platform to other teams/agents with some level of monthly coaching around their Chart of Accounts & expenditures.

Purpose of financing: purchaseType of financing sought: first looked/ing for traditional loan/mortgage but not having luck.

Purpose of financing: purchaseType of financing sought: first looked/ing for traditional loan/mortgage but not having luck.

But once its rehabbed and the rents are at or above market rate, then a Traditional bank comes into play, but so does your DTI and various other factors.

We will be putting 20% down on a traditional 30 year loan.

They fix it up and instead of flipping they refinance into a traditional 30 year mortgage.