The lender plans to finance 80% of the purchase price and 100% of the renovations for my property, which is approximately 3000 square feet, renovation loan amount of around $50,000.

Will they also provide you with comprehensive tax planning? 

One that has experience in the investor field and can help shape your investment plan. 

But if your plan is STR, then you need to understand the laws and that they are subject to change.

I have clients right now operating in the black and they are doing it because they are aligned with a great team for management @Alice Horn and they purchased with a clear plan to move forward. 

Or do you plan to diversify into other areas?

Hey @Philip Coiro Great to hear that you're planning to scale your business via Outbound marketing! 

If you don't have experience, you'll have a hard time getting financing on something like this as your first property because lenders will want you to have experience, especially if you don't plan to hire professional management.

I have plans of refinancing the hard money loan with a traditional 30 year loan in May'24.

A side note: I do plan on investing the money into another investment property (non primary)