Once the mortgage is paid off (by the tenant through rent), your cash flow will increase or as they pay down the mortgage, if you sell it you have a nice chunk of change.

Essentially, you live for free for 2 years to build more capital needed without the biggest expense of rent/mortgage payments, as the tenant(s) are basically paying the mortgage for you. 

The rental home already rents for $1250 and again I have no mortgage.

The lender didn't go out of business, YOU are choosing to follow your mortgage guy to a new lender.

Here are some common financing options:Traditional Mortgage: Obtain financing from banks with a down payment, paying off over time with interest.Hard Money Loans: Short-term loans with higher interest rates, often from private investors, suitable for quick acquisitions or credit-challenged investors.Private Money Lenders: Individuals or groups offering direct loans, with terms negotiated privately.Seller Financing: Buyers make payments directly to sellers over an agreed period, with terms negotiated between parties.Home Equity Line of Credit (HELOC): Borrow against existing property equity with a revolving credit line, typically offering flexibility.Real Estate Crowdfunding: Pool funds with other investors via online platforms for various real estate projects, offering diverse investment opportunities.1031 Exchange: Defer capital gains taxes by reinvesting sale proceeds into similar properties within a specific timeframe, useful for tax optimization.REITs (Real Estate Investment Trusts): Invest indirectly in real estate through publicly traded companies, offering liquidity and diversification.Joint Ventures/Partnerships: Collaborate with other investors to share resources and risks, leveraging each other's strengths for larger projects.Subject To Financing: Buy a property subject to the existing mortgage that's in place on the property (doesn't get paid off when the property sells).Assumable Mortgage: Buy a property and assume the mortgage that the seller already has in place.Lease Option: Rent a property with the option to buy it prior to a later date.Debt Service Credit Ratio (DSCR): A loan approved based on the income potential of the propertyThese options cater to different investor needs, preferences, and financial situations, providing flexibility in real estate investment strategies.Thanks,

My gross monthly average since November is about $3k per month, and my net outside of my mortgage is about $2k per month.

I know there's STR restrictions in LV proper, but since this is part of a resort, I would assume the resort can rent my unit when I'm away?

i used to live in the DC area and still own a property in Arlington.i know the numbers on paper look great in a place like Huntsville, but we see a lot of folks in the forums in markets like DC or CA, who buy a random property in AL or OH or KS, and then immediately struggle because they didn't vet it properly, or didn't realize it wasn't in as great a neighborhood as they thought, or even buy an OK property, but then make $32.50 a month in 'cash flow,' and are disappointed in their return.so, i know you asked about huntsville, but i'd encourage you to think about picking a suburb or exurb of DC and really invest some time in it - maybe hagerstown or fredericksburg or winchester, or any place you're interested in within 2 hours with a lower price point than DC.

The most obvious is that you will be able to offset your mortgage with renting out a few rooms.

Can a private mortgage be structured to qualify as a standard mortgage, enabling the borrower to refinance it in the future?