I've certainly relaxed my criteria and am now looking at a deal with close to an 8% CoC but won't pay to own a rental property. 

@Andrew Erickson Right now the ADU rules are being relaxed all over California in order to help solve the lack of housing crisis. there are a number of contractors who are specializing in helping home owners put small units in their back yards.

Vacation should be restful and relaxing, and comfortable, restful sleep is important.If a king fits, then king.Do you expect guests to spend a large amount of time in the bedroom aside from when they are sleeping?

The backyard is private and great for entertaining or simply relaxing.

Fico scores are more relaxed for FHA than 5% down.

what's the biggest challenge besides the strong rental market creating relaxed PM?

I currently live in Florence but have lived in Muscle Shoals and Sheffield in the past.

Florence, Tuscumbia, Muscle Shoals, and Sheffield are, in my opinion, an undiscovered nugget for REI.

Does anyone have a contact in Muscle Shoals area who could help us finding what we are looking for?

The new relationship between you and the tenant/borrower is more relaxed, comfortable, and without confrontation.Do they have a lot of visitors?