Seems to work out great for me.

I’ve seen buyers in situations like this secure terms for primary residence use compared to investors.. so it might actually work out in your favor if your buyer wants to live in the home.Funny enough, a friend of mine ran into a similar situation in Austin last year.

If one did work out, I'm concerned about doing my strategy (MTR) -- or any rental strategy post-rehab -- in the winter.I've spoken to some prop mgrs who are having a hard time (25+ days) to get renters in places.This is familiar to me as I have a SFH rental and rented it out two years ago from May-July (a 14 month lease). 

So to make STR work out of state for me that would require a property manager.

It's a lot more expensive these days but the numbers still work out. 

It has become more saturated as STR was shut off people switched to the MTR strategy so have LTR as a backup if it does not workout. 

@Frank Nguyen, depending on the exact area that you choose, this might work out for you.

You could also consider seller financing, where you work out a deal with the sellers to pay off the remaining mortgage balance while securing the deed.All these options would help you avoid the risks of not holding title to the properties while also giving you access to the equity you've built.

The math still does not work out to $8,340.

In the future if they do, let them know about the non-payment of this tenant and that you are reluctant to take another as a result.Serve notice at the home-leave the work out of it.