Especially if they specialize in seller disclosure problems.

I don't use a special lease or anything, and my guests are only staying days at a time. 

Your insights into how these smaller, specialized shops operate and the value one can bring by helping them modernize are incredibly valuable.

If that's not what your desired outcome is, do not get suckered into doing the FHA streamline refi.So at the end of the day, you have options, but if your goal is to buy another property, it's best to walk through all your options with a loan officer who specializes in working with investors and these exact scenarios, and map out a gameplan not only for your current property and next property, but getting to property 3,4,5 etc so that you don't get stuck on your journey.Hope that helps and best of luck!

If you need assistance with the setup, my best friend is a lawyer who specializes in these matters and can help.

@Shawn Good, my understanding is Fox Lake allows STR but you have to get a special use permit and it's a 2 night minimum.

Regarding a refinance on a sub2, are there any special conditions or is it straight forward like a normal refinance?

It could be a very long time before you obtain possession of that property and getting it could cost you thousand$ in legal fees, damages, etc.

Another problem I see is investors using 8% for PM fee when buying in crap hole areas where a specialized PM there goes for 12 to 14%.

I think if you are doing a DSCR loan it will be more expensive but rates should be the same, unless you are using a special program?