My overall response rate was a little over 1% for approximately 3,500 letters sent over a 12 month time period.

Ideally, this line of credit would be structured at a set interest rate with interest only payments for a period of 60 months.

@Dustin Tucker - I would say that half of that statement is true because it depends on the time period when you buy. 

After a certain number of calls to the same property within an annual period, the city starts charging my company per call (~$250/call).

You will never see 2.1% again in your life so before you move you should do all of the renovations with the equity so it's fully updated when you decide to leave so it actually becomes a strong cash flow property and not one you leave with stuff to do and it all comes up at once.

Your current Lease and payment terms are recognized until [DATE]; however, moving forward, please send all payments, maintenance requests, and correspondence to the address listed at the top of this letter.If you are currently using an automatic draft, cash deposit, or other form of payment to pay for your residency, please contact your financial institution immediately so as to avoid any late fees and/or eviction notices.I have included with this letter a Tenant Update Form for you to fill out.

@Gregory Fazio When using seller financing, ensure the interest rate is competitive and clarify the amortization period to avoid a large balloon payment.

@Joe MonaghanJoe, do you have any updates in this project?

For those following along at home, that language is found in Title 10, Chapter 1, Article E, section 6 (or 10-1E-6) in the municipal code.It reads: "The renting or leasing of real property for residential occupation for periods of time less than thirty (30) days is prohibited in any zoning district within the town, except as permitted in this title for hotels, motels and bed and breakfast inns."

If not, waiting until the penalty period expires may be the better option.