I would push for a clause that states the buildings and land deed to the leasee after the termination of the lease.

The guest rules state no partying and it is abundantly clear our houses are in neighborhoods with full time residents they will be caught and they will be removed without refund. 

For many of the reasons already stated.

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

Whenever you plan on buying a property in the future, do not take the seller agent word for it always do your due diligence and make sure you get a certificate from the township that clearly states how many units are legally allowed in that building. 

I should have specified that the policies I have had with my last two carriers (State Farm and Erie) required maxing out the liability protection offered on my properties before they could be listed under my umbrella policy.

Speaking from the Arizona perspective, we are experiencing continued growth, attracting lots of new residents (Californians choose Texas and Arizona as their top 2 places to move).Here's an economic forecast:https://www.azcentral.com/story/money/business/economy/2019/12/11/arizona-state-university-annual-economic-forecast-predicts-slower-growth/4398074002/Not sure where you are getting your "low rent" thoughts, maybe compared to CA.

Happy to connect and answer any other questions you may have.Do you work with out of state investors?

Thanks in advance.The laws regarding real estate transactions are often state specific.  

I would not pay down my primary residence so fast as there is opportunity cost that you would lose and like you stated, time is money.