And it often works because they are often working such long hours they are almost never home. 

Quote from @Nicholas McCormick: Howdy-Does anyone have any experience with short term rentals in the Bloomington, Indiana area?

Many Naive subject-to first timers think that as long as they make the payments, life is good.

Let's look at each:MATERIALSMaterials are actually the easier of the two to understand & monitor - as long as there's a decent amount of transparency about the materials needed. - Once an owner knows what materials are being used, they can then check pricing at Home Depot, Lowe's, etc. - Some materials for bigger jobs, like concrete, are harder to check pricing on.

We do long-term rentals and practice BRRRR on every deal. 

Unlike refinancing, which involves taking out a new loan, recasting keeps your existing loan terms—including your interest rate and loan duration—intact.

@Shayan SameerThe non-paying tenant could impact your short-term cash flow, so consider the potential costs and timeline of eviction in your state.

They bring higher tenant turnover, limited cash flow, and attract traditional tenants who aren’t your ideal long-term buyers.

Secondly, I'd chat with a realtor and get some recs on lenders to truly see what you're working with in terms of buying power.

We only have 6 doors.  5 are long term leases and 1 is a furnished medium term rental.