Lock in your money now and as rates continue to rise you'll see more and more rentors staying in the rental market longer.But beware because the rising interest rate climate could change quickly and with a correction we could see govt policy in a heartbeat that reduces barriers to borrowing and ownership. 

@Cassandra Staffieri this is the latest news on the Nola STR climate. https://www.google.com/amp/s/www.theadvocate.com/gambit/new_orleans/news/article_9cbb3e40-c75e-11e8-82fc-dfda324cdedd.amp.htmlI would be patient and stay tuned if I were you.

The reason for the seller's willingness to discount that much in today's climate, from what info I have so far, is due to the extremely low rate on the modified loan (less than 2%, recast for a new 30 year term).So due to the rate, even at 50% of UPB, the return on my investment would be around 4% after considering servicing fees, etc., which is not nearly enough to interest me in this deal, considering the risks of borrower re-default, etc. 

Absolutely, but it will be helpful for the small handful deals you are representing yourself in an open sale, but in private sales it is becoming harder and harder in the current market climate to say I want to buy your property and you are going to pay me a commission on top of that.

Message me if you want to chat more about the coastal climate in generalities. 

It has a climate control unit that allows total comfort year-round, regardless of the weather outside.

We'd like to draw owners from northern climates such as Canada and upper East Coast.

Even in harsh climates, a modern shingle roof should last 15+ years. 

@Shannon McEwan seems the oppressed victim disorder has now migrated to Twin Falls.

That said, let's talk about the alleged sticking points: a heated drive in a colder climate is DEFINITELY attractive (...says my aging but stubborn snow-shoveling body in New England.)