Challenges include depreciation in market value (i.e., mobile homes often lose value over time unless they are situated on owned land) and tenant turnover.However, tax advantages include depreciation deductions, which allow you to offset rental income by writing off the property's value over time, and cost segregation, which accelerates certain deductions.

I love the town, but I guess that my point is that it has substantial challenges as a full time local.

Challenges?

I’d appreciate any input you can offer on everything from financing to construction challenges.

Answer sure.. have to check if there is a due on sale clause or if you have a PG to the orignal seller.. that mortgage stays in your name unless there is a formal assumption  Maybe the example is more challenging for a house as the property.Ex. with vacant land - seller finances to me $20k with 5% down and $1k/moCan I after 1-2 months, then resell the land to a cash buyer for $25k, pay off the original $20k and pocket the $5k?

Challenges?

I'm curious to connect with any other STR/ MTR owners in that area to get more info on resources that are in the area and what challenges/ successes you have had there. 

Hi all,We are facing significant challenges with a tenant in our 'rent-by-room' property.

It's an A-framed garage with shingles roof, gutters, windows, and a 32" exterior door (in addition to a 16' operating face door). 

Challenges?