Start with ATV and income potential and work the numbers backwards from there.Next you need to make sure to fully understand the zoning and permitting process, costs, timeframes and what is required from the standpoint of utilities, parking, lot coverage, setbacks, height etc. 

My wife and I owned 3 rentals all cash flowing very well, but some lenders dont like to count the rent but always count the mortgage, especially if the home does not have 2 years of rental history.I would look for a lender that does a Debt service coverage ratio loan.

., a debt service coverage ratio or DSCR of 1.2+).If it's not, you'll be running pretty tight and running a risk of losing money any year that something unexpected comes up - and you'll find that's more often than you might think or like.

Our education is comprehensive, very detailed, and constantly updated.

Do you keep the same amount of homeowner insurance coverage as you would on a regular rental property or lake property or primary residence? 

I got a $3 million policy back them, and it would be few hundred more a year for another $2 million though my insurance guy thought it was unnecessary.As to the guy who got sued for $3 million, his S Corp policy did not include coverage for him, only the S Corp, and he was told to get his own lawyer.

If the HOA has not been maintaining coverage this is a great danger to you and all the property owners and everyone needs to be aware of it. 

@Shan VincentIf you sell everything you own and pay off all your debts, the amount left over is your net worth.If your net worth is less than the limits of coverage provided by an umbrella insurance policy, I would go with the umbrella policy. 

Looking into learning notes, but want to see if this was worth my time.https://www.udemy.com/course/comprehensive-guide-to-distressed-mortgage/

If the property has a mortgage/lender, and the loan amount is greater than replacement/rebuild cost for property, is it better to have insurance coverage for the loan amount or the replacement cost?