This should be on your list of items to discuss with your lender.Second rule of thumb when evaluating a deal is to know the STR management options available to you in the area where you are purchasing.

If I can just save one person from falling for his predatory tactics it'll all be worth it.I also walked away from the deal I mentioned above and told them to keep their $, I don't want it anymore so they understand this is more about justice.

Honestly this deal could look really bad to someone and at the same time look really good to someone els at the same time.

Able to recoup all investment capital through each deal to fund the next. 

With these deals, I structure them as partial interest-only loans, with you only making interest payments for the first 10 years.

The laws vary from state to state and even some local municipalities have ordinances that could affect how you deal with this situation.

Legit lender.. whether they have the terms your looking for or will do your deal is up to them.

If this property had been in one of the areas zone for more density they would surely have done a normal "Seattle six-pack" of 0-lot-line townhouses but instead they short platted 2 lots to still in effect end up with a six-pack even though in an area not zoned for it, at the cost of having to sell units as condos and deal with other ADU limitations (e.g. 1000sf limit).In 2023 the State mandated Seattle-style ADU regulations across all urban growth area cities/counties, going even a bit further (2 of any combination of attached/detached allowed).

I am a new investor who is eager and motivated to find deals along with learning more in depth of this Real estate industry.

Currently we are dealing in single family homes and non-commercial multi-family but have future growth visions on mid-sized commercial multi-family as well as STR's.Outside of real estate, I enjoy God - Family - Fishing and Friends.Excited to learn and connect with you all!