It seems like that’s one of the biggest dividing lines I see between investors who prefer value-add vs. those who are comfortable with more passive, long-term holds.

What cap rate would you need here in Broward to feel comfortable?

The home blends rustic post-and-beam charm with modern comforts, offering plenty of space for families and groups to relax after a day of adventure.

Atlanta is actually a pretty good market to start in if you’re focused on cash flow, especially in some of the outer suburbs where prices are still reasonable.One thing I’d suggest early on is getting really comfortable analyzing deals before jumping into the first property.

They’re less typical, and my developer background helps me understand where deals usually bottleneck, income structuring, entity setup, cash flow analysis, appraisal risk, so I’m comfortable navigating the friction instead of referring it out.

I’ve shifted toward private lending / asset-based bridge, but so far engagement has been limited—even at ~65% ARV.For those of you who lend or have raised capital for similar projects:-- What typically gets private lenders comfortable with this type of deal?

Their Reserve Funding Plan is critical, you must fully understand it, AND be comfortable that the numbers are even accurate. 

Estimate today's cost for a repair, then add in what you are comfortable with as an annual inflation rate to get you close to the future cost. 

I know some operators who simply don't use Airbnb because they're not comfortable with it.

Both comfortably above the 4.5-5% you'd get in the urban core zones a mile east.