@Ryan Enk In an environment like yours, it's a good thing you run them on leases.

Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.

Is your GSR inclusive or exclusive of your "rent?"

Regrettably with evictions taking 4-6 months in a extremely pro tenant environment where even the most obvious case is at best a 50/50 chance of eviction we have few options.

Are there other tax benefits associated with owning rental property that would apply under the current tax environment?

Are there other tax benefits associated with owning rental property that would apply under the current tax environment?

Having a HELOC that adjusts every five years is great though especially in the raising rate environment that we're in now.

It's way too shaky of an environment for the long distance STR operator.

When you make the investments it grows in a tax-deferred (or tax-free environment if you are using Roth). 

What’s the investor environment look like in that neighborhood?