If that means renting out part of your residence, that's great for cash flow and experience. 

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

Does anyone have experience doing this, and know how to go about it?

@Aubrey Eblin Thank you very much for sharing your experience with the Rent To Retirement Academy. 

Please reach out if you are a Houston based broker/agent that has experience working with investors.

However, if you intend to work with a hard money lender or utilize a short-term loan product, you're on the clock for repayment, which can be stressful if things go sideways. 

until your financially free assets fail.   .. 

Start with BiggerPockets Ultimate Beginners Guide (free).

anyone have any experience with Walter Wofford and his short term rental education programs?

It’s the easiest way to get a feel for being a landlord without the stress of managing rehab projects.