My criteria is based on what is legislated in my state. 

It definitely gives me some type of suggestion on a way to work around my issue, if not ideas for my proposal letter.Thanks for your help.

First deal here. I feel comfortable speaking with the owner, but have offers below his original asking price.I would like to meet him again and give him my offer that he is sure to refuse. I know what my top dollar is...

The town where we have one of our STR is proposing an ordinance that the owner must reside within 75 miles of the rental OR have a contract with a 'resident agent' who must live within 25 miles of the rental!

Wash so it's a couple blocks outside of the circle of proposed affected areas.

(b) Neighborhood CharacterProposals shall be reasonably compatible with the existing neighborhood character in terms of the scale of development of surrounding residences, particularly those within 300 feet of the proposed development parcel boundaries.

However, two new bills have already been proposed (one to extend them through March and the other that would extend them all the way into 2022). 

My proposed plan was to pay off my house with what I have saved and get a line of credit.

I could get use to this.Donn't give up hope, continue to talk to sellers, provide them with a proposal/contract offer, control and roll real estate for cash flow or equity, be honest, make full disclosures and the income you are seeking will be yours.Have a plan - don't slow down your prospecting, make many offers all the time, use a Skinny contract.

He is willing to sell over 20 rural houses.I want to propose owner-financing.PRO:- almost all houses have long-term tenants in place (some stay 7-10 years)- houses are in decent shape- great NOICON:- all houses are in different rural cities and areas, for example, two 3/1 in Ft Scott, KS, one 2/1 in Ontario, OR, 4/2 and 2/1 in Miles City, MT, two 3/2 in Bismarck, ND, etc.- it will be a nightmare to manage all of them, find handymen etc-----I think I can buy them for $150k downpayment and $450k paid partially within 5 yearsNOI is $71000 for 2019.Is it worth it?