You have a good point about the hassle factor though. 

They got Jared a policy that ran around $4,100 a year, which wasn’t exactly pocket change, but it felt like a workable number once he factored in the premium he could charge per night.

It takes about 10 years of never missing a payment, using light leverage relative to your income, and using a tiny fraction of your available credit card limits.

Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.

That's certainly one of the factors since 1sts tend to have tighter margins than junior liens.

Market fundamentals and economic factors seem strong and promising.

That’s before factoring in utilities or each personal situation.

The differing factor, IMO, is whether you're working with an HML/PML or a traditional bank/credit union.

The best market for YOU, is the market that fit's YOU; you're situation, your preferences, you're resources, your knowledge level, you're risk aversion and about 40 other personalized factors to you. 

Financing provided through this program is only available for properties located in Michigan or Florida.Available Product Type: SOFR 7/6 ARM, SOFR 10/6 ARMLoan Amount: $766,550 MaximumLTV: Purchase and No Cash Out Refinance - Maximum 99%Prepayment Penalty: NoneLoan Assumption: NoneEligible Properties: 1-unit dwellings, attached and detached condominiums, PUDsEscrow: An escrow account must be established for property taxes, and flood insurance, if requiredUnderwritingNo Private Mortgage InsuranceOccupancy – Primary residencesMinimum Credit Score - 700DTI – Max 43% (UW/Mgmt exceptions up to 50% with minimum 3 documented compensating factors)Student Loans – If in deferment, no qualifying payment requiredDown payment of 1% must be borrower’s own funds, while closing costs and prepaids may be gift fundsAttached condominiums require a 10% down paymentEligible Borrowers – Protect and serve heroes are defined as employees of public or private education institutions, employees of medical and healthcare organizations, all first responders, and active or former military personnel.Servicing: Retained