.$5200 in gross monthly rent doesn't tell us anything about the property taxes, insurance, maintenance, etc. 

That’s loan payment, property taxes, insurance, maintenance, utilities etc etc.

Some lenders may require a stable work history to approve a mortgage, so be sure to discuss your options with a mortgage broker or lender.Network and Seek Guidance: Connect with experienced real estate investors, join local real estate meetups or forums, and seek guidance from professionals in the industry.

It just requires looking at real estate opportunities from a different perspective.

Some states have licensure requirements for private lenders including California, Oregon, Idaho, Nevada, Arizona, Virginia, Florida, the Dakotas, Vermont... that may not be an inclusive list.

Also there less requirements to meet.

The best is when they move in and immediately begin making maintenance demands for things they broke themselves, or because some man they lied about not being on the lease is living there and broke it, or one of their endless supply of children broke it  and it's like you still owe like a grand from your deposit maybe don't take such a tone when you fuss over maintenance issues you created in the first place - but God forbid you withhold whatever pithy deposit they did manage to cough up for damages because they go full throttle Jerry Springer guest in 2.2 seconds. 

I use a hard money lender, where they typically require 10-15% down payment on purchase of an investment property, and they fund the rehab.

Hey there, I love your predicament because I am currently facing a similar situation, but I will offer my thought and what is motivating my decision. hopefully this could be helpful.we bought during the pandemic and locked in 2.25% rate. last thing I want to do is mess this rate. now with appreciation of almost $200,000 I am wondering what to do especially having created a new llc to focus on STR, flips,BRRRR and home maintenance. in taking this decision I believe you should consider location, which I think from your writeup suggest it's a strong area in terms of appreciation. next question is what market are you looking to invest in STR?

Pull standard crisis and background report.2 Take care of maintenance on routine basis3 Check with prior landlordHave printed acceptance guidelines to avoid fair housing complaintsBob CollettRemax Trinity