If it's in a high tax /flood area taxes and insurance could easily be 5-6k or half that then with title insurance points and closing it could make senseWhat is the breakdown ?

I plan to sale the lots that way.

Got insurance involved and use that money to remodel the entire inside, and add a new roof.

We owe $154k on the property and the interest rate is 4.25%, the monthly mortgage is $1050 with taxes and insurance.

There are many other sites you can list on if you are going for Insurance Bookings but in my markets or at least for the inventory I have, it hasn't proven to bring many leads. 

The loan is listed on the HUD and they provide lender's title insurance.   

It’s a good plan, to me at least.

Their permit will not be transferable when they sell though, according to the draft plan.

@John Brown Running a short-term rental (STR) on a subleased property, often called rental arbitrage, is feasible but requires careful planning.

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!