I explained it to you in terms of triple net leasing.

@Addie Burchell There should be some tax benefits to help offset the $220/month loss in terms of write-offs and depreciation.

A 75LTV Cash Out on that deal would be about the same and there is no lender origination fee, only the $1600 UW fee.Ohio has recently updates some of it's laws in terms of PPP. 

About half the time the investors bought something really crappy in a bad area and the experience you describe will be repeated over and over.The other half of the time this is just bad luck and things turn around because the property is in a decent area.It's really hard for anyone to know which situation you fall in because we don't know where the property is located (precisely), what exactly you've been doing in terms of repairs and maintenance, who's managing this property, etc. 

In terms of mountain cabins, those without a view, or no waterfront, don't have much in the way of redeeming qualities to help them stand out.  

@Chad McMahan Hey Chad, what have you seen as an outcome if the appraisal comes back not in your favor, in terms of needing repairs?

effectively, you'd either need to look for a lender that would let you use the other property as collateral (cross) so that you can avoid actually taking the cash-out (this is rare in terms of institutional DSCR lenders, but fairly common in the hard money or private money space)...

You do have to play the markets in terms of States/Neighborhoods.

When you have STR like airBNB or VRBO DSCR does allow that income unless you can provide a previous 12 month rents received or a print out from VRBO.The alternative to that is if the lender or UW will allow the appraisal to use MTR/STR income/rent schedule if the rents and property is common to the area in terms of rent available for the apprasier to show proof.My advice to you is make sure you do your home work and deal with a seasoned Banker or Loan officer that funds multiple DSCR loans per month. 

What advice would you offer to someone with no experience to date with rentals in terms of selecting the best location to look for properties?