Most work this way BTW Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

It does not answer every question (are they under/overcharging, do they have egregious cancellation terms, do they have silly rights to sell your property, do they have two and half pages of ticky tack fees, etc.), but something has to go reasonably right for a PM to have 95% occupancy or greater on a several hundred unit portfolio, in my view.

Short-term rental loophole and REPS status are the main paths to follow! 

Unfortunately 2023 for me is going to be a 'treading water' kind of year as I don't know how these flips will perform in the current market.Good news is I have very low leverage on the deals, and if the houses don't sell my backup plan is to convert to either short term or long term rentals.

Help me figure out if this scenario I thought up has potential to work or not.First Leg:Purchase Price: $500kDown Payment: $100kClosing Costs: $20kLet's say I want to purchase a short term rental at the price point of $500k.

Then the goal would be to either sell it off or keep it as a rental for a long-term hold.

But, I am considering buying a home 300+ miles from me that I can use as a vacation home for myself a few weeks a year and do short term rentals the rest of the year.Question: Can I get a second home/"vacation home" mortgage (10% down) when I don't have an existing first-home mortgage? 

And I am also happy to discuss my experience in the area on valuing small/medium multi-family properties, and running short-term rentals in the Phoenix area.

Another private investor, willing to bring equity in exchange for ____ (fill in your agreed upon terms). (3-15 days)2.

We looked into what was required from the owners standpoint and it turned out he needed a slightly different insurance to cover the property's use for short term rental purposes, even though he wasn't the one actually renting it out.