If you were looking to hold, you MIGHT be able to pull off something closer to those numbers but you'll see slow appreciation and most likely be in a C-class area, which means more pro-active management. 

Maybe money is tight, maybe it is the summer and people are feeling more inspired to make the recurring Home Depot runs, or maybe people are taking more initiative to round their skills on Youtube University. 

Getting a HELOC without a full appraisal can be tricky, but there are a few ways it might be possible, especially if you’ve added significant value to your property.Showing Recent Home Improvements : Providing documentation of recent home improvements and their costs might convince a lender to waive the full appraisal.High Equity : If you have a significant amount of equity in your home, lenders might be more flexible with appraisal requirements.Streamlined HELOC Programs : Some lenders offer streamlined or fast-track HELOC programs that don't require a full appraisal.

Problem is that European countries like Portugal and Spain are following (or preceding) the negative STR regulations that you find in more and more places in North America.

I do not need a big pitch deck put together - if I need more info I will ask for it but typically first thing I ask for is the proforma - what are the assumptions and review them to make sure they are realistic.Saw a deal about six months where the rents were $600 and they were forecasting $750.  

However, I'm starting to think I can get much more selling them individually to owner/occupants.

Are you interested in rehabs or something more turnkey as you jump into your first investment?

NEVER A DAY LATE.Their servicer Shellpoint now claims I owe THOUSANDS more than I do. 

I'll DM you and we can talk more. 

I'm also an agent in the area, I'd love to connect to talk more!