Sometimes 5 in the case of 9% LIHTC deals but all the way up to 15 as I’ve seen in 4% deals.  9% is competitive meaning there’s only a certain amount of projects awarded each year by your states HCR.  4% is not competitive and is usually more appropriate for large projects because 9% will get allocated to projects of smaller size so as to spread the benefit.  

Main thing I would think of if you are targeting families are things like pack and plays, cribs, gamerooms for kids, etc. as well.

As an out of town owner, one benefit of Madison is that we do have a good supply of property management companies to consider. 

Another benefit of this option is that it would allow you to get a conventional loan at 3-5% down. 

Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.

It will familiarize you with the basic terminology and benefits.

It does bring in some income outside of season as it is close to AC but it certainly makes over 80% in 3 main months.

The main person I talk with just changed shoot me a DM if you want! 

If you’re really going to just live in it long-term, I’m not really sure about the benefit up front.

I currently own and self-manage two STRs in Maine and should be closing on a small 'cabin campground' with 10 cabins nearby that will also be operated as STRs.