The reasoning here is that you will ALWAYS have a 'shelter' living expense... so it is not considered an asset WHILE you live it.... now... it can be an asset, when you SELL it but not while you live in it.... while you live in it, it is considered a liability because it takes money... real and physical money away from you every paycheck and does not make you money every paycheck, as in no $ hits your bank account every month from it - now gold, silver and stocks also don't put $ in your account every paycheck as you hold them BUT YOU DONT LIVE IN THEM, they are highly liquid in comparison and there is no 'Stock' or 'Gold' NECESSITY like there IS a shelter necessity.

So mid-term rentals are a rental of necessity.

But when gold's next best use it to look shiny, it's hard to hang my hat on its tangibility as a necessity to its value.

John:As appliances become more and more computerised, networking them becomes a necessity to provide firmware/software updates and to allow them to communicate with other appliances locally and the grid itself.Wireless moisture sensors can be had for <$25 these days.

Hello folks! Have you ever had to budget tree removal into rehab expenses for properties your analyzing based on their proximity to the house? I had a sour gum tree barely miss my personal property after falling due t...

@Nate Miersma it seems the cosigner route is a necessity in this type of rental.

An architect is an absolute necessity.      

I’m glad that the necessity of notice is mentioned there.

But, I get why the rules are like that.Incidentally, 12% for second position debt is pretty typical for new construction development projects around here ... less about necessity, more about managing capital flow.  

Higher levels make lots of money and then put that money into investments so that closing transactions is a nice bonus but not a necessity for income.