. $418,000 @ 3.125% on a 30 year fixed is $1,790.61 - what is the remaining $1,171 - taxes and Insurance?

Easy to use yourself too HELOC works (there may be some places that do a HELOCs on rental properties)I personally have used a 401k Loan on a few occasions - You're essentially borrowing money from your 401k and paying yourself back (interest goes back into your 401k as opposed to a bank) and if you don't pay your 401k back the loan would simply become a withdraw (maybe some tax penalties, but you could probably finagle a workaround).

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

.💡 Tax AdvantagesThis is where my tax brain gets excited!

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Unless the borrower is self employed and takes a lot of expenses to show lower income on their returns then it usually makes sense to pay a couple thousand a year in higher interest (you can pay like 4,000 a year in additional interest for DSCR if you are saving 30+k on your tax bill kind of math lol)

Post Dodd Frank sellers have continued the same bad practice of selling houses to occupants with financing at selling prices that are way high, can't be justified via any type of 3rd party valuation (appraisal, zestimate, tax value, even recent sales in the same area).   

I understand I wouldn't get the benefit of tax deductions, but what else am I missing that makes this a good deal? 

That is great info Sabrina Marie!

I'm looking for referrals for a custodian, tax attorney, and a CPA to set one up and advise me.