Some final notes are that my father is willing to co-sign or co-borrow on the mortgage.

At an 6% capitalization rate (very achievable) you are left with $9k net operating income. lets assume when you borrowed the $120k from the bank they lent it to you at 3.5% interest over a 30 year term.

I have lots of clients in the same boat- just getting started and trying to make the best possible choices as they move forward.

The second choice should be about your profile picture.

Basically, tax deductions help you preserve your cash returns, and appreciation and principal pay down get you to a point where you can borrow against your increased equity in the property so that you can purchase another one.

I see this often .. you need very large spreads in higher end properties to make it work especially if you have to borrow any money to do this.if you use all cash and flip it in 6 months.. your at 20% COC or so .. but tons of risk if any of the above does not work.out east would not even remotely touch it.

Or if you want to borrow the money for 12%APY you can do that to .

And how much could I borrow ?

If you are looking for business professionals then the downtown area would be a good choice.  

Many resorts will allow owners to either rent on their own or use a management company of their choice.