They even sent someone from the city to the house to tell us to stop operating it as a STR. 

Overall, it's going to be up to the state and local governments to enact changes that will affect the local housing markets.

It's best to have a house manager.

Until the house goes through the foreclosure process, I am making monthly interest payments.

Spend a little more money than you might have been planning to, buy in a better area (i.e. not a “turn key” 100k house off the mls), and self manage.

I can also see the ends of the Commuter Rail lines being good too...like Haverhill for instance  The Salem/Beverly area is great and pretty pro-development/housing from what I'm hearing.

The interest rate is 7%, so we suggest this property is for someone who wants to get into Lease Options and meets the other requirements such as adequate reserves and credit.That means, they buy the property, they wind up with $50,000 in equity and they do a Lease Option to a buyer who doesn't currently own a house, but wants to.

Best thing is to call the housing authority that manages the voucher program in your city/county.

The front end can sometimes be tedious to get approved by the local housing authority, but rent payments are always timely.

Current house is 2500 sqFt 4 bed 2.5 baths.