Aside from the STR restriction situation mentioned by Michael, new construction is going to cost more than buying an existing property 98 percent of the time. 

So, if by this time next year, we don't have 15% saved for a down payment, then I will need to reevaluate our options.

You'll want a great team in place that can - work efficiently and in a timely manner considering your loan time frame- communicates very well as you are remote and not at the place- priced well.

Taking it nice and slow and trying to not make mistakes that cost time and money.Thank You for the Input in Advance,

Our rates are among the lowest in the STR space at this time. and we can do 75% LTV on STR purchases. 

Selling costs time and money. 

Hi My name Is  Eloisa 
I just bought my first property to lived in, I used the 203k loan  that it was a little hustle.
Just to share a little more about this loan that in my opinion was better than a regular FHA bec...

This is a great time to look into the New York multi family market.Brooklyn has seen the highest percentage increase in inventory (74%) compared to other NYC metro area counties since last year (source: oneKey MLS). 

A DSCR Loan doesn't likely make sense here if you would look to exit the loan in that short a time period

A lot of the companies can run a report to show you the numbers if there are other rentals in the area.STR's Condo's pretty much manage themselves and you can probably do it yourself if you have a little spare time as a learning experience.