., get a higher paying job, work two jobs, go to trade school, get a higher paying degree, live in affordable area, etc...these are things that most of us did).

If you live in Cleveland (a cash-flowing market), I wouldn't look OOS at another pretty similar market.

Roll them all up and the averages are:purchase $154krenovate $47Ksell $232kThese are gross numbers, not including closing costs, borrowing costs, holding costs, licensing and permit costs, G&A, overhead, commissions, forward rate buy-downs, and lease-up fees, to name a few of the many expenses incurred. 

There is no additional "risk" on the note like a demand clause etc, but you have  extra expense in upfront one time costs and the pre-payment penalty that most programs are sold with if rates do drop as expected in the future.  

It has made me question how can people live the way they do.

I live in the Tyler, TX area, but I hold my mortgage licenses in Pennsylvania and Texas.

I'm originally from the area and have been starting to look at some properties there as I am living in New Jersey.

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

For reference, we're heavily involved in the co-living space, which is an unorthodox strategy but can perform exceptionally well with the right property and systems in place.

Although I don’t have experience in house flipping yet, I’ve successfully run a construction business back home.Due to the war, my family and I had to search for a new place to live.