The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

@Brooke Carlton I found a potential solution to this problem!

Hey Makani, you should check out DSCR loans, which are primarily for investment properties and focus on the property’s income potential rather than your personal income.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

It is something I am interested in doing in the future, potentially even this year, but I am curious how to put concrete numbers to this decision.  

@Jadan WilliamsIf I were in your shoes, I’d start by clearly defining my investment goals and identifying target markets with strong job growth, population increases, and development potential.

Experienced investors typically value properties like yours by analyzing cap rates, cash-on-cash returns, and income growth potential.

Also, factor in potential interest rate changes if the HELOC isn’t fixed.

I'm not a fan of mega back door roth contributions, unless potentially if you're in the 22% tax bracket or lower.