As doomsday scenarios go, this isn’t terrible.Now switch to my mobile home park and consider the same factors.Rent - low rent payers ($200 per lot for 15 lots),Credit – my residents probably have mediocre credit at best,Building – I own nothing here, as the residents own their mobile homes.Site Improvements – I own nothing here, as there really are no site improvements to speak of,Zoning – zoned for the parkReal Estate - an otherwise poorly located piece of ground jammed up against an airport.The seller/owner created the park 15 years ago and claims to have never had a vacancy, so if my doomsday scenario hits and all the trailers are wiped out by a tornado, I’m left with a poorly positioned piece of ground which I suppose I would eventually repopulate with mobile homes.So why consider this at all?

There are some waivers and exceptions to the primary residence exclusion for active military that may leave you eligible to take some if not all of the proceeds tax free.By they way - a great accountant who knows real estate in and out just gave you some good guidance.  

While undergoing the compliance training I came across one of the prohibited outside activities for bank employees- "acting as a real estate sales person, broker, agent or engaged in buying and selling real estae except for primary and secondary residence".

I'm not familiar with GA code but if you have non-ambulatory residents that limits you to a certain number of stories with wood construction.Let me know if there is anything else I can help with.

If you'd like to DM me I can connect you with our Finance Director and I'm sure we can come up with a competitive solution for you. 

@Eric Lee Is your rate for primary residence, 2nd home or investment?

They are about to formalize the legalization of airbnb in one's main residence SFR, while banning it in R2 or above zones.

Him and I are in pretty good standing so I have been trying to find a way that I can purchase his home to add to my rental portfolio because I have 3 rentals in the area and his home is in great shape and would need absolutely nothing as far as repairs, etc. and its across the street from my primary residence so I would like to have some control over who moves into the house. 

That's no guarantee that a great deal exists on the MLS in your geo *today* but you'll start to figure out pretty quick what seems oddly low priced/high priced for an area.Great point regarding stale listings ... that is actually how I got a great deal on my primary residence.

Take a HELOC out on my primary residence - it had appraised for $235,000.