@Daniel Hartless for any condos that allow STR, you will not be able to get away with 10% down as a second home, because conventional loans do not allow financing for a short-term rental and will require a minimum of 20% down.

And if you are considering a long term rental, I suggest you consider out of state investing.

If interest rates settle down and rents improve I may try the Long term route.   

I recently read a short book that teaches how to maximize points.

So, unless your lease is long term you may wish to discuss and negotiate the issue.

I am looking at short to mid term rentals 

.- Our current preferred return is 12% a year, for a 3 year term (keep in mind these funds along with the notes that they purchase exist within a marketplace so returns fluctuate depending on the offering). - ACH payments are received by investors on the 1st of every month, so participation in our fund is a purely passive investment vehicle that's open to accredited investors only (and like Patrick said above, accredited or not, anyone can purchase a note).As an added bonus, investors in our fund can redeem shares to purchase notes upon availability. 

We were looking for one because a tree fell on our Short Term rental.

The upstairs is approved for short-term and long-term rentals and has a kitchen, bathroom, and a Victorian room that could be a bedroom.Notes:-There are three vaults, one on each floor.

The short answer is I look for 9% min and try to press it to 11% with those strategies along with rental increases once improvements are made and the tenants know you actually care about the property.