S8 can change their limits any time though so that's some instability there.

However, there are tax code changes every year.

Some part of these neighborhoods change drastically, but the main issue is the amount of supply.

And it's very pertinent to today's environment because it doesn't look like interest rates will be coming down much, if at all this year.

My basic underwriting making some standard assumptions on HOA expenses, 20% down, 7% interest rate, 30 year mortgage, utilities, supplies, and maintenance costs shows a loss of about $22k per year if you are self managing.

Other KPIs and considerations you should evaluate when talking to any lender who offered private placement of loans/notes are historic default rate, how quickly they can place your funds (do you get preference over their income funds, for example), average interest rate - borrower note rate and what is passed through to you, are loans serviced by a 3rd party servicer or in house.

It’s quite appealing as a long term investment - even at today’s rates.

1st step is to make sure that the electricity is rated for having electric heat by the electric company.

Always be cautious of what you charge on things like paint, flooring etc.. most judges will use life expectancy and divide out a pro rated amount you could charge the tenant for excessive damage and not normal wear and tear 

You also need to change all contact information to you - all email, phone, address.