First off, pardon me if I misunderstand things given the limited amount of information I have, but there are 2 things right off the bat just from your description that could be contributing to your issue: 1) a 2nd floor unit - I had a similar setup for a duplex I owned in St.

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??

Several of my investor clients have dealt with similar situations in North Carolina, and here’s my take based on those experiences.First, you’re right about the legal framework: NC landlords must make reasonable efforts to re-rent the property, but tenants remain liable for the rent until a new tenant is found.

Hi Casey,I would recommend looking into buying right in the City of Detroit and not necessarily the suburban areas.

Working with a retiree couple right now in Carson City, and closing an 8 plex for a client down there in about a week. 

I am going through that right now with my mom and step dad.

In case of default the promissory note converts to a performance deed and is recorded giving seller or heirs the right to reclaim the property. 

We buy at a discount and pledge our legal right to collect the debt (a collateral assignment agreement) as the collateral for the private capital loan we take out, which is backed by the value of the real estate securing the 1st loan.  

Quote from @Harold Sebesta: just double checked my lender is now 80% LTV for short term rentals only 85% for long term rentals Sounds about right. 

We renovated the loft right away, and then put it up on Airbnb.