Get the cost analysis and blue prints done and work it out with the construction loan committee and start the work draw phase.The other options which can be a little easier is buy a home that will pass an Inspection/appraisal and not be "Subject to" but does need a lot of TLC/renovations and do it yourself.

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You do have other options.

This lowers your chance of accidentally replying to a cybercriminal that sent you a spoofed email. 4.

I get leads from other sites, but honestly, for whatever reason, they usually have lower quality leads.

Sharing an article I published here on BiggerPockets last year related to this topic on all about the financing options / qualifications / underwriting for STR income in case it helps you!

Not saying it's not possible or profitable in the rest of the city, simply the multi unit option and 0% vacancy from the university makes it a great option.

One of my favorite programs can finance property values down to $75,000 - however, I've had exceptions granted for clients with lower values as long as the loan amount stays above $50,000.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Constructing an IRR timeline on both options using the timeframe you decide on will help you visualize the better yielding investment.