Checking in with the BP public on this...wife and I just bought and moved into a SF this May at 6.812% and the monthly payment (4319 all in) is pretty painful.

It might be more of a psychological benefit than a legal one, but I’ll take the extra comfort!

BUT, for many people there is a PSYCHOLOGICAL cost of having “‘debt”.  

Permits are a pain but liability for a poor renovation is brutal. 

Glad to hear they are metered separate, always a pain when not.

Problem TenantsOne of the biggest pain points for landlords is dealing with tenants.

The biggest challenge I can see for this is that I hear it's a pain in the *** for the seller to go through a local community bank and confirm their income for their approval for a mortgage, and there are local/community banks that will approve 95-100% LTV loans based on how profitable the deal is.

Be also mentally and emotionally prepared for the folks that think just because this is not your primary home, it's somehow less of a catastrophic event for you because others did lose their primary homes.That's why it's vital for you to form support networks with people who are in your same boat - ideally in the same community.This truly pains me to share - but most of the disasters I'm seeing across Western NC are going to be considered flood events and if you do not have a separate flood policy you will likely get no coverage.

Replacing locks every time a tenant leaves is a pain.

Its a product we offer, just doesn't get a lot of play, because its a pain to refinance that seller out down the road.