Me and my clients all use a low money down conventional mortgage (as low as 5% down) with NO PMI and extremely low closing costs. 

Closed-end seconds offer similar leverage. 

I'm closing on a 74k sq ft (5 warehouses) Class B Industrial facility this week. 

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Winter can still do well but we are not quite close enough for any ski mountains. 

Hi Brian, not sure how close you are to NH but there’s a couple local meetups that happen every month in The NH seacoast area just across the Maine border if that is something that interest you. 

We also double close so that we can guarantee you with a free and clear title.

. ~80% tended to be transient and moved on by there choice or ours. ~20% were decent and "stuck". 

When you do a traditional 1031 exchange you have 45 day identification period, to provide a list of potential replacement properties and 180 days to close on a replacement.

Early on in my career, I saw a close frend do something similar.. she borrowed from her circle to finance a rural fixer-upper, then paid them back once she refinanced after the rehab.I’m guessing that massive yard plus the barn is already a big selling point for your tenant, especially with a family that wants a little extra room for animals.