The addition of a private balcony and standout interior design further elevated its appeal to both short-term and long-term tenants.

So those could meet your needs without you having to do any of the management or additional expenses for repairs.

Determine how much money would be needed to handle each risk, and determine if you have sufficient liquidity / cash flow to ensure you can “stay in the game”.This is of course in addition to all normal “due diligence”, financial forecasting, etc. 

While we are both gainfully employed and have good income, our DTI (Debt to Income) is obviously incredibly skewed even though our properties cash flow. 

Additionally you have to be ok with not disclosing your true intentions as for the use of the information.

In addition, if you are buying in a remote market its appropriate to budget another 10% for property management.

You might also consider forming an LLC to manage the property-related business activities while holding the property in your name to stay within your lender’s requirements.Explore safer rental strategies: If you’re open to short-term rentals, Airbnb’s Host Guarantee provides additional liability coverage, which may offer peace of mind while keeping the property in your name.

It's been an excellent addition to our workflow, and I genuinely think it could benefit your business as well.

The farm is also permitted under the "dude ranch" CUP to build additional cabins or smaller buildings to use as short term rentals, or worker housing, or other options.

Unfortunately many lenders will see this as a red flag and may not take the risk to lend you the rest of the money even if you use stated income program or bank statement program but those are for self employed borrowers who have active income from their business but write off to many expenses that when filling their taxes their net income is really low or sometimes negative.