Caesars Palace is a hell of a choice.Just my view is if Caesars Palace is affordable to host this-- it means Vegas is doing poorly, BP is doing exceptionally, or a bit of both.

So I'm in South Florida and as everyone knows, prices here are sky high, and I can't afford to buy almost anything without a considerable loan.

Very broadly I am looking at areas near Austin, TX that are still affordable, Charleston SC or nearby but really I’m open to all suggestions!

Note: I say this also assuming you can afford the negative cash flow, but if you cannot, then get out as soon as you can. 

What we are seeing a lot of is defaulted investor loans in florida as those DSCR loans no longer make sense and went from a 1.1 down to a .7 pretty quickly with insurance and taxes and borrowers cannot afford them as they bought with no nest egg to pay for the shortage. 

If you can afford a higher payment, a 15-year mortgage saves on interest over time.For the down payment, aim for at least 5%, but if you can put down 10-20%, you'll avoid PMI and could get a better rate.

- to afford monthly payment to the "seller" of that property which is you.

But a really good property, for what you can afford, in a good location like Charleston and wait. 

Can you afford to have zero possibility of a tenant for those months that you don't have it listed?

If that’s not done BEFORE you submit your package it won’t be counted for your affordability test.