We have rented the long term unit to family friends for over a year and the bills were always reasonable.

Has owner financing come up in your conversations with your friend from church?

@Brett Coultas if you're a newbie, you want to be careful of an "investor friendly" agent selling you something they truly don't understand:(95+% of agents only know how to handle owner-occupied transactions - you can verify this by asking them calculate ROI for you or Cash-On-Cash!

To all the wonderful BP friends!

Google is your friend on this one.

More important than identifying target areas is establishing relationship with a local investor-friendly professional who has personal experience in investing in Cleveland.

Sacramento metro by contrast is more friendly, and there are some areas we target here that do very well for STR.

Quote from @Michael Poloncic: Three individuals signed a lease together, all friends, the lease is set up where each of them are expected to pay 1/3 of the rent.

my last post on this subject.I ran into a small company  6 folks involved  boy friend girl friends  they read rich dad book then went to a guru presentation and learned about wrapping notes which of course is the bizz model your talking about.

I don't know the Baltimore market but have a friend who is a very savvy investor there and maybe he would do some coaching to help you understand which way is up.