Having your 2 paid off properties as collateral has no effect on how you operate unless you do not pay ,,,, and I'm betting you did not get one paid off and the on its way by not paying.

Put their map in list view and sort the table by dollars per square foot by clicking on that column.  

You may have a somewhat thinner applicant pool due to the traffic considerations, but I would bet you'll have good demand. 

While it probably will happen, I wouldn't bet on continued appreciation and clearly nowhere near the recent surge rate.Consider South Central LA.

If you hold a property for a few decades and the area magically gentrifies into the next hot neighborhood, then great, but that's a miiiiighty big bet to make.

I am going to bet that Navy Federal will be on the look out for these sorts of things and could call the mortgage due.The worst case for your plan was to break the law regarding STRs after a year?

I am not certain, but I bet that this is not true if you own through a C-Corp. 4) Entity formation is a pain in the rear, will complicate your life greatly come tax time, and is expensive.

But at a high level, I would say your best bet to minimize your monthly cash burn would be to rent each room that you can spare.

As others have said, you can make it easier on the seller by moving those fees to the buyer's column.

Your best bet is a DSCR Mixed use loan.