If the rent can't cover even the interest then I'm not sure cash out refi does anything for you.Yep, I am probably thinking of this just as an excuse to hold on and weather out the market lows.

I think there are some sites that let you post land to camp on (i.e. tents).I'm not sure what the weather is like there as the only thing I know about new mexico is what I saw from breaking bad. :-)   But you might want to even consider putting up a yurt (glorified commercial tents that are relatively cheap) and furnishing it and then renting the place out on airbnb.Is there good fishing on that river?

Look at the side(s) of the house that gets the most weather (south and where ever direction your winds normally come out of).

I don't know what the weather conditions are there and if a garage is necessary. 

Our slow season is months with some of the best weather IMO and people come here to escape bad weather further North.

Vegas SMF is almost always the exact opposite of that. 30+ year old buildings, in less desirable neighborhoods, with flat/flatter roofs and often with shoddy exterior siding. 3) The ideal SMF would be one of those brick mansions they build in the Midwest that look like new for 50+ years, in an area with better weather.  

Jason Weathers How did you finance this deal?

Jason Weathers How did you finance this deal?

Just for future advise if you have equity in your home its best to get a heloc ahead of time and just have that credit line open similar to a credit card so you can tap in to it whenever needed weather it be to pay off debt, or invest in your next property or for family emergency.

If you have class C rentals, I like to use Traffic master Grip Strip Water Resistant Luxury Vinyl Plank Flooring.