There’s never been a better time to step into the booming mid-term rental market.

This can also work with long-term rentals if you end up wanting to do that.

Most lenders I work with go off of the Pro Forma income expense on calculating DSCR.The terms can be all over the place. 

My focus has been taking abandoned properties and renovating to rentals, both short and long term.

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases. 

For my family investing OOS is a big long term goal (most likely south with mountains), but it's never been the main plan. 

These loans are short-term as you mentioned, typically 12 months, so you'll need to refinance before that balloon comes due.

When the housing market became seller friendly, I unloaded 5/6 of our long term rental units, paid off our house with that and invested in stocks and mutual funds…completely no fun, right??

It seems like location would be especially critical with pad-split (and similar systems), but I’d love to hear your thoughts on what to watch out for in terms of zoning, safety, or demand.Also, I’ve traditionally rented out units the regular way, so I’m curious how screening tenants works for you with the pad-split (and similar) model.

Prepayment penalties- usually 1-5 year terms.