The majority of investors I work with after using this form more or less break even on the rental business which makes it a non event and very little impact to your debt to income ratio.

It is in an enclosed gate area that can only be opened from inside the fence so I'm leaning away from using it as storage space while I have other guests staying there.

All you're doing is finishing space and you should be able to go through normal permitting processes to get that done.  

Any insight on neighborhoods to target for LTR, or lakes to target for STR (open to non lakes as well).  

its those dreamers that get hoodwinked by fake lenders that tell them what they want to hear just to get some non refundable due diligence money up front on deals they know will never go because the borrower is as you describe or the property aint worth it.

If it's not, communicate quite clearly with them That their issue is a non issue. 

The earnest is non refundable.

This creates a natural flow for buyers, starting with curb appeal, showcasing the livable spaces, and ending with the layout and lot details.

I am a new investor as well and wanting to get into the flipping space.

Another question I had however is, when/if you ever decide to sell, do you believe they are harder to sell due to it basically having to sell to another investor looking for this and not someone looking for full time living space?