MTRs can offer a nice balance between the steady income of long-term rentals and the high cash flow of STRs without the constant turnover.In terms of locations, I've noticed that areas close to hospitals or corporate hubs tend to do well since travel nurses and professionals on temporary assignments often seek out these rentals.

Certainly, you will need to balance between how small you want to go before your reverse the curve.

There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself. 

It’s a powerful tool but requires careful management to balance risks and rewards.

As such, we are responsible for and have been making payments on loan number [Loan Number Redacted] currently in the amount of [Monthly Payment Amount Redacted] per month (PITI) with an original balance of [Loan Balance Redacted] to [Lender Name Redacted].

Accounting is also important as he will need to have the knowledge on how to read P&L's and balance accounts. 

Most PPP are either 6 months of interest (typically on 80% of the original note balance), or 1/2/3/4/5% of the balance that is prepaid.

If the house can actually be sold for the $2 million quoted, then I believe the best outcome from a FINANCIAL viewpoint is to sell the property for the $2 million, pay the spouse $550k, pay the $270k mortgage balance, leaving the wife with $1,180,000 cash.  

Helocs (as opposed to heloans) are interest-only for a period of time, usually 10 years, so during that time the monthly payment is lower on a DTI calculation than a first position mortgage with the same balance.  

That leaves your reservation payout with a balance of $94.75.