Or your inability to qualify for said financing if you had to acquire it yourself right, I mean, no way, of course you have financial capacity to more than qualify for the mortgage financing right.

I still may proceed as it’s my primary residence so the negative equity portion is not my primary goal but it remains a good argument against.

Plus, it puts your personal residence cost into the financial mix. 

Investment Info:Single-family residence buy & hold investment.

So I'm doing the preliminary work in the meantime--contacting the city to see what they would like, reaching out to the residents in the neighborhood, etc That's great that you are doing your research beforehand. 

@Julian Martinez The good thing about your position is that if you decided to sell the property you can qualify for the 121 exclusion, and qualify for a 1031 exchange.

Investment Info:Single-family residence fix & flip investment.

The guest rules state no partying and it is abundantly clear our houses are in neighborhoods with full time residents they will be caught and they will be removed without refund. 

Cabin rentals out there are not like houses for primary residences.

If so, I would definitely consider a shorter-term lease or MTM lease to get you into that period and re-negotiate with the current resident or re-lease it at a higher rate.