Rates are generally better on a conventional loan when accounting for all fees and prepayment penalties.

And it doesn’t matter if it’s CA TX  ID AR or FL Subject To can be done SAFELY, out of state, too.More info at the link provided by Bigger Pockets, just below.

You could make this work ST, MT or LT, depending on how you approach it - the key with unique grounds is owner-provided upkeep and service built into the listing and what permits allow. 

That's great that he travels so much but ask him to provide where he rented and where he slept during that time. 

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

I wish the Department of Health would accept private provider plan reviews for septic tank permits.  

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

Quote from @Tim Baldwin: @Nathan Gesner, that form should not be used, as it provides for 60 days notice to terminate a month-to-month tenancy, which FS 83.57 only requires 30 days.It was a ten-second search for an example.

I wanted to provide an update on the status of my situation.

Of those two, I actually like the first one better because you have a competitive advantage to that market and the amenities you could provide.