Mortgage lending is highly competitive, and there are many newbie loan officers that will bend over backwards to get you to pull a credit report and pay for an appraisal.

If I am applying for a mortgage for anything I have to self-report these loans.

I have a few commercial loans that don't report to my personal credit. 

However, make sure to research thoroughly—there are many providers in the market, but not all have the experience or track record you’d want.For consistent cash flow and long-term appreciation, look into areas in the Southeast.

Being able to drive by your properties frequently to see them in person (even if you have a property manager) can provide consistent peace of mind. 

cash flow reports, 12 month cash flow reports?

@Zachary Sakena Purchasing properties through an LLC is all you truthfully need and that is more for business planning than anything else (if you consistently follow through on the items I previously shared). 

Rental income would be reported on Schedule E, and these write-offs could offset other income if you qualify as a real estate professional.

At the end of the day, Panama City Beach and Destin offer more potential for consistent returns, fewer regulatory headaches, and the added perk of a beachside escape you can actually enjoy.

If you do those things consistently and carry appropriate types and amounts of insurance you are going to be protected.