I'll bet she's lying to you so far......and you'll need to carry a pistol when you go meet with the water thieves, people don't like having their water shut off.

Refinancing could help lower those monthly payments, or if it’s just not performing, selling might be the best bet. 

Also check You Tube... bet you can find a video showing you how to do it!

You can look on Zillow and such for what the LTR for your area is... but bet you it works out that the STR has more potential.  

Hi Zafer,The best bet to know what the property tax is on vacant or improved land is to look at the local county's assessor's website.

If I was a betting man, I bet you paid thousands of dollars for something that can be done for $100 and they have ownership interest or referral fees for those entities

However, @Bruce Lynn provided a great reminder to remember all of the expenses that could be included in your cost basis; again, a CPA advising you specifically would be the the best bet.

Also the outside will need the shrubs to bet cut, a good power washing, etc.  

I bet I spend less than 10 minutes on every rental and we consistently rent 200 days a year.Rental history - Unlike long-term rental cash flow, the history of a vacation property is not always translatable to how successful you will be with the property. 

Much safer bet would be to buy an existing home with a view in a nice neighborhood.