Some details on the deal below:Mortgage rate on the property: 3%Monthly mortgage payment: $1200Amount owed on mortgage: $230KCurrent property value: $370KEquity: $140KDue to the low mortgage payment and high rent potential in this neighborhood I would like to assume this loan and rent this property out as a long term rental. 

I would just add that we do a full attorney review of LLC docs prior to closing loans and the vast majority still have issues that need to be fixed/amended (albeit this is a short easy process typically). 

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...Short-Term Rental Loans: What Are the Options and How Do DSCR Loans Stack Up?

Hi,I'm trying to invest into short-term rental in Savannah, GA.

Would you keep for the long term or sell this property?

it looks like a hopless situation for me.I had all of my life savings put in Yucca Vally short term rentals In  early 2022. got 4 nice villas at 20% equity. then 2 things happened: rates went up and demand for vacation rentals in that location went WAY down. 

Long-term goals, networking, and a solid financial plan are essential.Good luck!

Well, history shows what happened both in terms of marginal tenants ultimately getting hurt (as did many landlords) and the Supreme Court ruling the Eviction Moratorium as unconstitutional.I see the whole idea of rent control, which is just another form of government invasion for political hopes, being bad for everyone. 

Id suggest 2 or 3 yr term on both. 

So if you say got a 2-family in one of these towns, you could live in one side and then short- or mid-term rent the other side and max your income out there to pay down your mortgage.