The tenant has not been the greatest, one example being late on paying with not always paying the late fees.

I know you are dealing with a 3 month lease rather than a 12 month lease, but for example....Say I rent my home for $2,500 per month and have to lower my rate by $100 to find a quality tenant that is a loss of $1,200 over 12 months compared to a loss of $2,500 for each month it remains empty. 

In a very simplified example, 33.33% of the interest expense on this loan ($500k distributed / $1.5m loan balance) is now attached to the boat(s). 

One example would be the office sector being hit hard with defaults.

It seems like every city, county, and state has its own rules, permits, and tax requirements for short-term rentals, and I’m finding it overwhelming to navigate all the different layers of compliance.For example, some places require business licenses, transient occupancy tax permits, or even special zoning approvals.

Best way to scale and build wealth is to 1031 exchange and I can help show you examples here in KC. 

For example, you could showcase the family-friendly amenities, outdoor spaces, and stylish interiors all at once, similar to the one shared here (this is a listing photo, so I would recommend you change the text to fit your guests).

Reach out and I can help explain more/give you a few examples! 

For the 700 credit score you could take 1 month's rent as a deposit but for the other 2 you could take 2 months (as an example) due to the risk factor. 

In this case, since they are borrowing their payments, these would get added to the principal balance each month, and interest would be calculated on that.If, for example, the interest rate on the note were 10%, they would implicitly be borrowing their payments at that rate.