I am confident that I can send business your way as a number of clients are actively looking for more PM options for STR in Duluth and surrounding areas!

We are keeping options open to see what the neighborhood needs and what code changes will allow for in the future.

A loan option you could look into that will potentially preapprove you for more is a DSCR (Debt service coverage ratio) loan, which is based on the rental income of the investment property you are looking to purchase, instead of based on your personal income for a conventional loan.

I just have this fear of letting go of a property.The 2nd option is to refinance the same property for the needed cash.

This is a very valid point, I supposed with my LTR’s I do post addresses, just typically gated by a trusted real estate agent to sort for valid options.  

I'm always hesitant to improve property I only have the option to buy later, but as a seller I've done both granting an option and interest-only SF with low down for the right buyer and situation like this. 

We don't entertain that as an option because it's not scalable in our opinion. 

Also- I work around 70 hours per week right now so I don’t really have the option to manage myself.

I'll definitely look into the various options around closing time.

So make sure you’ve used up all your other funding options first.