Interest rates need to drop a certain amount in order for a person to make a transaction right now.

Its doubtful that the municipalities involved would sign off on a condo conversion or subdivision, as their aren't many rentals in the area.

This post reflects my personal experiences and opinions, so always do your own research before making any final decisions.

Marketing-Ready Design – Your rental should look as good on camera as it does in person.

Even if you personally have just a modicum of design aesthetic sensibility, after reviewing 20 or 30 properties, you will quickly be able to get a sense of the winners.My 2 cents,Mike

Welcome, great community here on BP but also in-person in Central Texas, definitely encourage you to get involved in the lots of groups and events in the region!

For context when we do this our biweekly payments have been around $485 per paycheck so around $1,000 per month of lost income per person when we both do it. 

.: I'd be tempted into doing an STR (maybe with a higher down payment to ensure cashflow, just run ROI numbers) or an apartment complex - I personally wouldn't mess w/ small stuff.

The idea of debt-free is that if a person is going to retire and has to completely depend on the income, they don't want a severe recession surprising them and causing them to default on the debt and losing the properties.In a normal world, I would do that as well.

Since the original loan was apparently for a primary residence an LLC could never qualify because it isn't a person who would owner occupy the property. 2.