This property gave me that opportunity to live a lifestyle I want, (Rural with room to play with grown up toys) as well as reducing my living expenses to almost $0.How did you find this deal and how did you negotiate it?

Beds are super comfortable though, and plenty of beach toys. 

Even though they have the same "tools" in terms of which mortgages they can use for FHA or conventional, some loan officers can find how to get to yes, and some only can find how to get to no.

25% for flood when creek rises, fire, non paying tenant, roof repairs, tree falls on duplex and insurance deductible is $2500, tenant puts toy down toilet and clogs main line, dog which you did not allow bites someone, disposal stops working, property manager 10%, property taxes increase because they see you did rehab or you changed the title, noise fine as tenant decides to become a drummer, trash bill, ants or vermin and you have to hire a exterminator, mold claim, planning department inspection fail, city fee as business, legal fees, CPA fees, insurance goes up, Imperial Beach business license and landlord permit/ annual fire safety inspection/gas co inspection $1500+, heaven forbit the Coastal Commission says you dumped foul water, to name a few

Many folks with campers, boats, trailers or extra vehicles do not need to have a heated or enclosed storage area for their toys. 

Just for those of you who wonder, I have toyed with interest-only loans or ARM financing, but so far haven't done it yet.

It has 12 stand along houses and a much wider courtyard that is always full of kids and toys, all the units have big front porches or screen porches that face it.  

BrianNothing prevents tenant from running the water, kicking holes in walls and door, or other vandalism.However, these things seldom happen as retribution.More likely, a tenant fills up an inflatable pool every other day in the summer, or fails to report that the kitchen drain is leaking, or that the boyfriend beats her up every weekend and busting up the place, or that tenant lets a dog do his business on the carpet, or overflows the tub because they fell asleep.While a good tenant will agree to a fair water policy; the court will typically throw out the policy in an eviction.Keep in mind that you can get a leak notification from water department via “clear-reads” through the mycleveland water website.Usually bad tenants are multi-dimensional... they tend to follow a pattern... low credit score, extension criminal background hits such as driving with suspended license, expired plates, drugs, panning the rent late, refusing to pay the water, violating trash pickup guidelines, police calls by the neighbors, no-show for service calls, removing smoke retractor batteries for the kids toys, not replacing burned out lightbulbs, not taking care of the yard (in a single family”, busting blinds and screens, etc. 

Put down how much you received, when it was received and in the bottom left put down for rent from X day to Y day (so Dec 2019 rent for 123 Main St, City, ST, or rent for Dec 7-31, 2019). 

I've toyed with the idea of a rental home in VT to be used partially as a vacation home for my family.