Out of the areas in KY that is not one I would have thought would be on most out of state investors radars.I am still in the initial stages of my research, but Owensboro made into the list while choosing candidates based on cities with diverse economy with significant industries for an LTR.

BUT (It hurts to write this)It’s great that you’re taking the initiative to shop around for the best rates—this is a smart move when making such a significant investment.

If they pass that initial trial period, I offer a 6-12 month renewal. 

I decided to look at other states because NJ needs a larger initial investment since house prices are higher here. 

The minimum "initial" lease term in Atlanta is 2 or 3 months, so they don't qualify as STRs, and thus don't have the same regulatory issues.

So marriage to someone that initially talked good game is not a surefire sign of long lasting happiness. 

This creates a negative initial position.

Your down payment is you buying the initial equity. 

They were initially hesitant about Linda Vista but ended up loving the location’s convenience and rental potential.

Also be aware that your cash-out refi will likely need to be 75% - 80% LTV, not 99% like the initial financing when you run your numbers.