@Nicholas L. 

As @Nicholas L. mentioned, you'd be ahead of the game with a househack or 2 in the next few years.House hacking will allow you to keep your entry costs relatively low i.e. 3.5% or 5% of the purchase price.

We drafted our own letter of intent to purchase and then had our lawyer write up the sales agreement.

I’ve got excellent credit,  and a signed offer letter/contract for the new role.I own two other properties and have been self-employed this past year, so while I’ve been through the mortgage process before (when I wasn't self-employed), I’ve never done it without paystubs.

Underwriting & Financial DisciplineMany STR owners bought emotionally — operators run models.Cash Flow Model: Build underwriting that includes all real costs (cleaning fees, utilities, management %, CapEx reserves, and realistic vacancy).Dynamic Pricing Software: Beyond Pricing, PriceLabs, or Wheelhouse to maximize ADR and occupancy.12-Month P&L Tracking: Monthly financial reviews comparing projected vs. actuals.Stress Testing: Underwrite for worst-case scenarios (20% occupancy drop, ADR compression, regulatory tax hits).System: Quarterly Financial Review SOP — Reconcile P&L, re-forecast cash flow, adjust pricing, and reset CapEx reserves every 90 days.7.

Buyer used his own hard money lending with a commitment letter to the closing date.

@Jason Wray@Nicholas L.

This looks like more of a news letter format.

Thinking we may need to change up our market selection and cover letter strategies. 

You can door knock, skip trace to cold call owners and send letters.