I’m planing to opt for a conventional loan, unless I find a better deal to finance the property.Currently I’m constantly checking out deals in Zillow and other websites to have a notion on the zones prices and monthly rent that I could charge.Thanks for your advices and believe me that I am enjoying every single moment of my adventure Thanks !!

The seem to have a sea plane festival, I'm going to have to look into that.

I am married, my wife is 52 years old and we are both looking ahead and planing on leaving the rat race as soon as possible.  

A reputable and decent size operator will do everything by the book, but someone with a lot of money can call themselves a HML and do things on a little different plane, sometimes not for the best.

I'm an out of state investor so unless I want to either hop on a plane or drive 6hrs to my rental property every time my tenants need something.....I think it's best to use a property management company.

Also, how far away "elsewhere" is makes a huge difference ... if it is 20 minutes up the road that's one thing, if you have to hop on a plane to get there that's completely another ... will let you guess which one I'd advise against :)

That property is also in the flood plane, which is part of the cashflow issue.  

I've been to Michigan a few times and you can see the difference when the plane is landing.

It's not something you'll be able to jump up off a plane and start talking about how much money you can make.

It used to have a lot of industry when McDonnell Douglas used to test fly their planes (DC-10, MD-80, etc.) over the Colorado River.