The CR is due shortly.

Secondly this mortgage is a big money maker for OCWEN, and its guaranteed by a first mortgage. 

@Kavya VeerapaneniThere is a market for short term rentals in Danbury.

Rent out one side, either Long term, Short term or Mid-Term.  

If you do choose to invest out of state, the best advice I could give you based on what I have observed running a local real estate group here for over a decade is build your own team.

I am assuming you know it will lose money most likely?

Or can you still run everything through your personal return (just want to make sure that I can deduct things such as HOA fees which I can do if it is a rental).2) If I do decide to run everything thru my personal tax return (save on LLC fees), should I at the least set up a separate bank account to track costs separately?

So I'm interested in getting started in purchasing and running self storage facilities and want to learn more.  

Hi Collin,After managing hundreds of properties, I always keep an eye on short-term rental trends, especially in key markets like the Smokies.

There's long-term money to be made on that strategy.