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Depending on how far values decline is the difference between a partial loss and total loss. in essence its the same position of those who make second loans behind the first or third position when pref goes in front of you..

has anyone had positive/negative results in dealing with a company called 212 Loans?

I think there's a path to refinance that would flip me into positive cash flow, but I'm coming up short on ideas. 

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!

However, when you don't know what you don't know, this is an incredibly dangerous and risky position to be in with such an expensive investment.Just my 2 cents.

A positive word from you could turn things around here where people are beginning to feel the course is a scam.

Jackson County TDR is working hard to position our area as a year-round destination, and it is catching on, but I wouldn't count on significant, year-round cash flow from a vacation rental here.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.