*I hope I'm not breaking any copyright laws, Heather and Brandon, by paraphrasing your book: The Book on Managing Rental Properties.

The only thing out of state I would consider is PA cause it's still on the up and you can potentially hold and rent anything that doesn't sell for a decent rate where the rules/laws are better.

You would be in an unsecured position and the cost to manage and service the loan (which is required by law but most ignore) would add a cost to youJust sell it at reduced price

If you are comfortable with renting by the room, check the local municipality laws in the areas you are considering to make sure there are no restrictive laws about operating boarding houses.

If you discuss anything else, you will be in peril of violating real estate licensing law. 

@Aaron Antis check your state and local laws because even if a lease has an early termination clause for the owner, statutes may override the lease.

Similar low maintenance, they aren't subject to Condo laws, and you could get financing much easier, particularly FHA, unlike condos.  

Coast Guard, specializing in Federal Law Enforcement and Emergency Response.

They plan to continue what’s been ruled illegal through clever workarounds and ticking boxes on forms differently.I’m just frankly shocked at what’s coming out of their mouths - almost as if the law is this silly little thing that the courts enforce because they can’t see the light properly as an agent does.I say all of this as a licensed agent.

What are your tenant right laws like in Cedar Rapids?