I buy and hold and do short term rentals and mid term rentals.Located in Racine Wisconsin  Hello Gabriel: I also live in Racine County there are some great deals our way and including southern milwaukee county too!   

I have an opportunity to make a quick 30k in equity, but only cash flow around $25 — if I look at long term appreciation, that seems to make sense to me, but am I overlooking something and trying to make this work?

Give your state's 'cure' term ("In New Jersey, a tenant has three business days to pay rent and court costs after a judgment of possession is issued to avoid eviction.

As another poster mentioned rates are lower than they've been in the previous 18+ months but unless some very surprising economic data comes out between now and when you did your refi it seems unlikely that rates are going up in the short term and there is at least a decent chance that rates drop a little more before then. 

Property values here have a steady history of growth, making it a reliable market for long-term investment.2.Tenant-Friendly Laws: While this might seem like a challenge for landlords, tenant-friendly laws create a stable rental market.

Quote from @John Brown: Quote from @Katie Miller: Are you saying you would long-term rent it from your friend and then run it as a short-term rental? 

I also require additional security deposit and sometimes a guarantor if they were approved in this manner.I also agree that this situation sounds like a pattern not a one-time mistake or short term tough situation that caused this.  

A common term for these is payroll loan, but there is other terms as well.

Does anyone have any experience with short term rentals in PCB?

Quote from @Holly Barrett: So I'm comparing them w/Foremost on our Short Term Rentals, the quotes are $500-$1000 less than I am currently paying for each property per year.