Management only magnify  when you are nowhere close Originally posted by @Aldo Balatti:I am in Canada and interested in having a vacation property in the US for short term rental in a long distance/far away market from where I am living.

As Sasha stated, that is at least $75k you need to bring to cover your current debts alone, plus closing costs on top of that.Leave the $280k @ 4.25% in place and find some way to pay off that construction loan. 

Although, I should note, it's close from what I hear but also I don't think I've ever come across someone who loves either.

This property is in a great area for me in North Arlington (great schools, stones throw away from a huge community park, and close to I30), and the plan is to live in it for a year or so before renting it out (I’m sure I’ll be picking your brains when the time comes!). 

You can always double close though, so it doesn't change much. 

@Liam Willder because If you purchase with a DSCR it is expected to be occupied by a renter, often by the time the loan closes or shortly thereafter.

At 4% interest, I bought investment properties which easily met a DSCR of 1 or greater, even when using the market rental value which was always less than the actual rent I receive from my tenants' federal housing choice vouchers (HCV).

However, since you personally attacked me, I have no choice but setting the record straight to defend myself. 

In Houston, Tx we get traveling nurses, divorced parents wanting to be close to kids, students, traveling professionals, and just people looking for a way to budget their life.

In my market, this can easily lead to increased home prices, closed transactions that had no inspection where there are a lot of issues that could have been identified by an experienced agent, and a bad taste in the consumer's mouth.