When the value is less than $60,000 market value; the lender seems a high cost of maintenance compared to revenue generated with that.Good luck

I feel weird buying a vacation home for ME when I feel like so much of my strategy is 'work hard, save money, build equity, expand REI' - but at the same time, this could potentially be a small income-generator from AirBNB - I just don't have enough faith in that to really push me over the edge into moving forward.

However, in this day and age of the house hack, especially in areas where living spaces are hard to come by, why store your car in the garage when you could rent that puppy out and generate some cash flow?

@Brian Winters, Semi Random thoughts and some answers for you.The county will do formal arrangement to pay back taxes.

I would say that it may pay to have another home warranty company give you quotes and make sure they realize this is an attached structure- it doesn't seem like this is accurate in not covering; what would happen for the end user that wasn't using this for income generating, but simply an extension of their square footage? 

A deal with $1 monthly cash flow will in the end turn into a liability as demolition costs will exceed the cash flow generated over a lifetime.  

Income generating parking lots and structures located in Central Business Districts and entertainment areas have the ability to provide stable to provide stable returns with low capital expenditures. 

I get the title company to generate the promissory note and deed of trust for the lender.

What is the best practice to keep everything aligned and organized in terms of income generated from the property.

My plan is to purchase it at a discount so I can use any equity generated from the sale to be used to fund the renovations and repairs, rather than going through private lenders.