If the floors are 5 years old so now you have to save double or $100 per month just for 1 item or be prepared to pay for it out of pocket.

Be creative like @Paul Sandhu and you can still make a lot of money from STRs not in vacation areas.

@Bob Stevens Was all worth it for the experience, I’m so much more prepared now and ready to take down my next deal!

@Dwight Cook I agree with Colin the cost seem super high, I can only imagine it being that high if the loan is non conforming which sounds like they may be doing that, one strategy is to offer a higher purchase price in exchange for higher seller credits, this is no cost to you or the seller except your loan will be larger, also look at taking a rate where you receive a credit, you can make this work if you have a low enough dti with the two loans and you can pay the full down payment for both the rest is just a matter of negotiation and creativity

I am located and central Virginia and just curious to see if anyone has experience with this situation or has any ideas on creative financing?

The key is to remain creative, open minded, and get to know investors in your local market.

Be prepared.  

Although the San Diego market is competitive with low inventory and high demand, I see abundant opportunity to maximize real estate investments by employing creative strategies.

If you intend to manage on your own, then I recommend you start reading some books so you're better prepared to face what is coming.

Hi BP,I'm one year out from beginning my real estate journey. I'm looking to purchase a 2-4 unit in an A/B neighborhood within capital region NY. Aside from education and networking, are there any steps I should take ...