That said, I've seen many of these carriers are pulling away from habitation exposures (non-renewing a good portion of that business).  

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

@Kyle Carter just because a building has all section 8 tenants doesn’t necessarily mean that the cap rate will be higher on exit but it might attract a buyer(s) that are focused cashflow and not appreciation; therefore a lower price to juice the yield.One of my non negotiables if I were you would be to only buy in an area that is desirable.  

I wasn't differentiating liquid vs. non-liquid assets. 2.

In Oceanside, New non-hosted STRs are prohibited outside of the Coastal Zone as of February 10, 2024.Most HOA's do not allow rentals less than 30 days so that is likely not an option unless you find a couple of places on the water that allow it but usually tough to find below $1M. 

@Chris StrausbaughWhat state as in many states a lost note can still take action - especially non judicial states

I would recommend reaching out to @Denver McClure as he may be able to help with a non-conventional loan

With a multi-family property, it is very unlikely that all of your units become vacant or non-paying at the same time.

Note that active income isn't the same thing as non-passive income, it's lower bar that just requires that it's a business activity that isn't just entirely passive. 

There is no issue with eviction for non-payment of rent during the winter in Wisconsin.