Also I am thinking now that these are small rural counties with population in the entire county probably no more than 50k or so.. at least with most of those folks living in the city of Oroville which is right on the border with British Columbia In my flying days I would go into Oroville to get through US customs compared to going into one of the airports Airports north of Seattle .

Talk to both and compare.  

They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

It is also better than what I would have received for a comparable lot in other locations. 

If you sold it, what would you do with the money and how does the return compare to what you get now (factoring in the amount of work/stress with each option)?

You need comparable sales BEFORE you spend $175 or the appraisal will come low to your expectations.

I would consider the cost of extracting your equity from the FL property by sale and then compare that to pulling equity by way of a cashout refinance.

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

If you come to me and say you super handy ready to take on a major renovation my answer will be different compared to if you come to me saying you need turnkey and 30 minute commute to NYC.  

I am not saying or comparing them to Norada, just saying that make sure you truly understand what it is you are investing in if you go this route.