The reason for the high list price is that the rental income this house produces justifies the higher price; this property has been turned into a triplex - upstairs 3/2, downstairs 3/2, and an attached 3/1 cottage (all beautifully renovated in the last year).

We would definitely want to use the cottage more than 14 days a year or season.  

Simon- someone I know bought a couple of very small cottages and one of them had soft and uneven floors.

I bet you could get cash flow if you bought a large lot single family and built a separate "accessory unit" cottage in the back yard or converted the garage to a rental.

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Its a cute 1914 cottage. 

Using the BP calculator the property will cash flow, if permits are approved for the backyard cottage the deal would be a homerun.Typically how long do the loans last when doing a Owner finance?

Looking at a 3 cottage rental property, small units... it has leased solar.  

Yes....1925 home...been renting for 3 yrs....double rental...2300.00 for house and cottage ...having old piping issues.and some roof situation. ..had lived there my self....had whole house lifted....has gone up 10 percent in value....just at a standstill now....plumbing 1925...not sure but may be looking at 10 grand or more...don't know whether to keep...sell....or use loan of some type....thanks for your inputs....

The property consists of a SFR plus a "in-law cottage".