Yes, you will need a cash or PML to buy the house, but it is true of any real estate transaction with the exception of wholesaling. 

Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

Everything went really well except for the fact that they sold the loan to a hedge fund before closing and the hedge fund's fees were added to the loanguys fees and it all added up quite a bit so I changed my mind at the closing table and used a private lender that is friends with the closing attorney. 

A "lake house" might be in a residential zoned area where a commercial use would be prohibited or at least require a variance (approval) to make an exception.

The Austin metro market is approaching that territory.Here are the full stats for Austin and the greater metro:On the rental front, a recent Redfin report placed Austin atop the list for the largest year-over-year decline in median rents among US metros:Appropriate rental pricing and high-quality marketing are vital to navigating the current leasing market effectively.

A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.

Numbers always look good on paper but between holding costs when acquiring and renovating property, closing costs on can also add up.I am not saying it cannot be done, as I did it with about 75 loans in a very similar fashion (except I was buying NPL's and got them reperforming).

It does not cost the landlord except for the labor and materials.

Negotiating felt like a game of chess—except I was playing against a grandmaster, and my queen was missing.

I saw it near every beach (except on-base), highways, urban centers throughout CA.