This put me at a difficult position having to explain the difference between cancellation and alteration request, and why alteration request is not in line with cancellation policy.

My name is Bernice Retzloff and I am the in house realtor at Foundation Property Management in Memphis, TN.Investing in Memphis, TN could be a great move for you, especially if you're looking for positive cash flow.

My out-of-state clients are successfully finding buy and holds here that have positive cash flow, hit the 1% rule, and have also lots of potential for appreciation.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

What're some positive and negative stories you guys have of using little to no money to purchase property? 

I've been ruminating over the low rate environment recently and whether to refi one or more of my long-term rentals, but I just struggled visualizing the full gamut of financial impacts, e.g. loan cost inefficiency, 30yrs vs 15yrs mortgages, maximizing cash flows vs cash-outs, tax positions, etc.

Not sure what you're financing position/plan is, but make sure that you speak with your lender regarding if there are any issues financing the acquisition of an STR in North Conway, NH in the event that the property appraises as "rural."

With reduced supply this could have a positive affect on rental revenue this upcoming winter season for short-term rental owners of homes that were not negatively impacted by the storm.

Ask how they handle routine maintenance and emergencies and whether they have established relationships with cost-effective and reliable vendors.By focusing on these critical factors, you’ll be in a solid position to hire a property manager who can take the stress out of managing your rental property while helping you maximize your investment.If anyone has more specific questions, feel free to ask—I am happy to share more detailed advice!

I applaud you for being willing to give up on some confort for getting into a stronger financial position and to be able to reach your long term goals.