First Owner Financing Proposal - Vacation Rental in Charleston
Bp Community,
I am looking for advice on acquiring a multi-family vacation rental property in Charleston SC. The property has two 3 bedroom houses on the lot, in which I would Airbnb one and live in the other. The owner or the property is open to seller financing and asking for a proposal. The value of the property is around $850K.
Should I base my proposal on a 30-year mortgage? How long should the terms be before I refinance? Any advice would be great!!!