This will be a commercial loan.

@Taylor RobertsonSome buyer agreements include language for situations like this.

.)- If use the property more than 15 days or 10% of the time it becomes a residenceI suspect this is part of why the STR trend has picked up so greatly amongst professionals working in tech.

From the conferences I have attended, all I have read I think 3x rent is more common but that doesn't mean your PM is wrong. 

I would lease it to cover cost for 2/3 years and then I would sell once I could get $475,000+  Would be a nice ROI and is actually doable.Love this idea!

Sounds like this is going to be a great cash flowing asset.

Im not sure if I do enough to call it active but it's my only gig right now since I retired .No involvement , I go check on the property in Colorado on occasion to check it out the condition.from my decades of doing this you pay income tax to the state you live in..

Don't do this.

This is an insanely low price.

I can have them just setup an ACH for the monthly payments, etc...but I feel like this would be easier with some automation, and there just must be something that's already setup for this.