I gotta be honest - I don't think this makes money - high cost of materials, high rates relative to the last 15 years, probably not looking at much appreciation (I wouldn't expect the last 15 years to be the norm), lots of competition (there are a few brand new high rise condos going up), gulf shores is just down the road as well.

Other common lease violations are damaging the real property, staying longer than agreed upon, keeping pets without the consent of the owner, or breaching one of the material terms of the lease agreement.Performing illegal activityInvolvement in an illegal activity may be valid ground to evict a tenant.

Under Servicemembers Civil Relief Act (SCRA), the following are considered “uniformed members:” Armed servicesActivated National GuardCommissioned Corps of the Public Health ServiceCommissioned Corps of the National Oceanic and Atmospheric AdministrationTo terminate the lease agreement, the tenant must meet the following conditions:Tenant joins the military after signing the lease agreement or signed the lease agreement while in the military then ordered to permanently change location or deploy for more than 90 days;Tenant provides landlord written notice; andTenant provides landlord copy of the military ordering him/her for a permanent change of station or deployment for a period of 90 days or more.Landlord fails to perform its dutiesFailure to do repairsTexas law mandates residential landlords to make a diligent effort in repairing property problems that materially affect the physical health or safety of an ordinary tenant.

I had material to study, home work to do, some field research and then to present to my coach every week.

Construction materials: Frame, no basement, roof: asphalt shingles, Floor: Carpet on stairs and bedrooms, LVP: Kitchen and living room.

Someone who is intimidated by it might not want 2, but probably doesn't want 1 either.The risk in the two portfolios is inverse to each other since we don't know anything more about either alternative.

He was thinking I needed to meet the rep status but no way was I because I had a w2 that year.So, track your hours for material participation and work your w2 without fear.

If you're not a W-2 employee or have additional income you can try an alternative income verification such as bank statement deposit averages or asset depletion (if you have significant reserves or assets.) 

Alternatively recognize the challenges of being cash neutral at high LTV, the benefits of no longer paying a LL rent, that rates may lower such that you can refi, that over long term there will be appreciation and rent growth so it will at some point have positive cash flow, etc and lower your initial goal of cash neutral. 

I suppose I'm looking for any advice on how you found an alternative to hard money.