@Cole Payton, I’m of the mindset to go with conventional mortgages for houses that I plan on holding, until the reserve requirements become too difficult.  

I can even do LTR on this property but I would prefer str or mtr so there’s always a backup plan 

Today, it depends on what you plan to do with the money.  

Hi everyone,I am currently planned to close on a rental property in southern Indiana and will inherit a long term tenant.

Picture below.My big plan is, make driving range, build some retail stores , bar & grill inside, generate more revenue.Build a big golf complex so it can build foot traffics. 

This is basically a possible framework for my semi retirement.  5 year plan Assumptions-My own company is building everything (except electric) and cost savings can be opportunistic on overstocks, returns etc, but my cost assumptions don’t include any savings here.

Unless your friend plans to pay if they truly owe.  

Thanks James we plan to go with white or something that matches our theme and decor.  

I suspected that 1st floor condos don't get too much love, but since this condo doesn't have an elevator, I figured it would be easier to move furniture into.  

So I plan to take the hard-line with them just as you laid out.