I am interested in Non Performing Notes (NPN).

I want to avoid the competition from non investors as this it a desirable area. 

Charge an extra non-refundable deposit for pets.  

Great question @Terri Dyer, the answer is it depends :)Property that qualifies for 1031 treatment is property you purchased with the intent to hold for productive use as investment. 

Expect broken cabinet doors/hinges, holes in walls, broken window treatments, stained carpets, and walls that need complete repaint.  

If you have any additional non-owner occ assets you may be able to get a portfolio loan.

If you are heavy into non-performing that portfolio management % will go up.

It's not pretty to model a 150 basis point increase in cap rates but the returns remain better than idle cash and certainly better than what will happen in non-real estate asset classes if that happens. 

If property is investment, look for a non owner occupied private money, commercial loan.

Best use case for a “furnished” rental for our market is a 28-38 non-parent professional who travels a lot and needs it set up for the 10 days a month they are actually home.