A few years later, I hired a local Wyoming attorney to create a living trust.

If you are not planning to live in the property, then you are not going to qualify for an FHA loan.

Buy where you intend to live, where you know the areas best.

Quote from @Kornelius Friske: We have a STR located in peoria AZ. it's 6 beds (garage conversion) and about 3900 sq ft in total. our energy bill last month was $450 and has been hovering in the $350-$450 range since we went live in august.

I really enjoyed your podcast episode! 

Buckle up and enjoy the ride!

My sister and I have done all the leg work in finding where the 2 individuals lived at. 

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

Gutted the kitchen and dining/living room area.

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.