I’ve been interested in long term rental property investing for a while now and have worked out a plan of action that I wanted to get some feedback on.My wife and I would like to buy and rehab a property that has an “extra” guest/mother in law house on the property we could live in for the first year in order to take advantage of the easier funding on a 203(k) loan while renting out the on-site guest house as an STR before potentially transitioning to a longer term rental when we are ready to move out.

And yes, all those extra fees are real. 

Thats not a huge difference from a 40 copay then get slapped with co insurance and this and then and now i paid 100 with my insurance but have also had the pleasure of paying the extra 1k premium monthly. 

Still looking for "THE" bank, prior experience in banking has made me extra particular in the qualities I prefer in my lenders.Thankfully I am under contract so I've used this time to think strategy some more.

Have you read the NJ DCA pamphlet "Truth in Renting"?

Honestly, good on them for finding avenues for good ROI like they obviously have through their lending...not really their fault in any of the difficulties I have shared above, truthfully.  

If they earn it you buy the card on your double miles CC to mitigate your cost, if they don't earn it you're probably earning the extra $600 if you catch my meaning.

Then a few extra bucks for a pretty sky and pretty grass etc.

So an extra .08% on your rate, over 10 years. 

I like the aggressive pay off strategy, but why not just keep a 30 year loan and toss in some extra $ each month toward the principle?