There’s no one answer, a lot depends on the investors personal financial position, tolerance for risk, goals, etc.  

Side note, it is considered in some states illegal to reverse late charges because it can be viewed as discriminatory for reversing one tenants late fees and not another's. 2.

Any one have any insights.

Reminds me of that one guy who posted his cost breakdown on a crap rehab and everyone blasted him.

If there’s one thing I’ve learned, it’s that success in real estate isn’t just about what you know—it’s about who you surround yourself with and how you adapt to challenges.

A two bedroom 1,300 sq ft cabin is going to go for way less than a 2 bed, 2,400 sq ft cabin.One of the issues out there too is that some are setup as legal 2 bedroom cabins because of the septic but then they have lofts and such that allow you to rent them out as 3 or even four bedroom cabins to improve the rent.You mentioned one nearby you with a similar layout.

That's definitely a good exercise and one we've been doing more and more lately (and thereby selling and selling more these days). 

Let's say in year one, all interest expense and no principal paydown. 

Some people get lots of phone calls day one, but not day 31 or day 131 or day 331. 

I've called a couple title companies there and they are not familiar with the process and one said that the practice CANNOT be done in the state of IL.