Any input is appreciated ToanYou're getting a mixed bag of answers because the term "portfolio" is used in a variety of instances.A portfolio loan is one that is kept on its books by a bank, a correspondent lender or a private lender. 

If I need money this very instant, well I'm going to get less.I disclose and recommend disclosing the following;1) I am buying it with the intent to make a profit.2) Depending on a variety of conditions, I may or may not rehab it myself, I may partner or sell it.  

I have done direct mail to find houses, worked with probates and foreclosures, bought FSBO properties...a variety of methods.We managed the first few rentals, but were posted back to the UK, so we hired a property manager. 

The more variety there is to the number of major industries and types of companies in a market, the better their economic breadth is considered to be."

I recommend talking to at least 3 lenders, I recommend someone you bank with, a small local bank, and a big bank to get some variety in your options.

Depending on the type of property and loan type as well as your current credit score you should be able to get yourself a variety of loan options.

A local broker could provide more specifics - Ocean view in an of itself has a lot of variety of building quality, flood zones, demographics etc. so depending on the specifics of the building it could easily be more or less.

Offers full turn-key solutions as well as a variety of financing options. 

No way I’d do this deal for a variety of reasons .

8-12% returns are not bad for a safe place to park money for a few years.There are a variety of ways to structure the deal.