I currently live in NY but looking at investment properties in SE Florida as I winter down there and I'm looking to relocate in 1-2 yrs.

I am actually going to take my first "mini retirement" (phrased coined by Tim Ferriss) and spend the next six months backpacking SE Asia and Australia.

@Sean Mills I cannot answer your legal questions but if you decide on the SE Michigan market I can certainly help you find a property.

Yes, STR in SE Idaho have been doing very well.

If that weren't the case, then it would be a SE matter to refinance after the purchase is complete.My concern wasn't the cash, but the 2 for 1 aspect, which I'd not researched before.

I recognize that my proposed scenario isn't "real" per se, but I'm at a stage where I want to keep this passive as I have a job I enjoy, a young family, write some music for passive income royalties.   

Sale prices and demand is still incredibly hot all over our SE corner of Wisconsin.

Purchase price: $200,000 Cash invested: $17,000 Buy and hold in the hottest market of SE texas What made you interested in investing in this type of deal?

I'm currently originating a loan for a S/E individual who's using bank statements to qualify.  

I restore/rehab and flip just SE of the triangle, but have worked in that area too......