I'm curious to try them out for at least one owner occupied client transaction to see how they work at transferring the loan, forms they file, required contract wording, etc. 

Prime -2%, 25 year term.Both require a 10% down payment. 

Hi Luke, an education expense is a deductible business expense only if you get the education while your working in a business with a profit motive. 

https://www.biggerpockets.com/blog/short-term-rental-loans-a...Also - PS on the advice regarding getting a vacation home loan - if this is referrring to the conventional 2nd Home / Vacation Home Loan (10% Down Loan) - I'd be very careful here, these are not supposed to be for STR investment properties (you are required to rent it out no more than half the year, not utilize prop management, ec.) - which doesn't sound like your plans for this investment

I always like to stay under around 60-65% rule, as some unforeseen expense always seems to pop up once you start tearing down walls.

Upfront expenses and monthly payments must be considered when calculating the return on your investment.EXAMPLEYou cash out $100,000 of your equity and use this as a down payment on a $400,000 investment property.

Also, if they require a full appraisal on a short term loan, that is an issue as well.

There's a lot of laws to navigate, the market is excruciatingly expensive, and the properties you purchase may not cash flow immediately.

The best neighborhoods are Bellhaven, Fondren and the Northeast side (39211) but they are more expensive.

@Bryan Galaz the purpose of a HELOC is to use that money to invest, but you must be disciplined with putting the money back and not spending it on a vacation or expensive car.