But now that I'm older and hoping to retire within 7-10 years, I'm wondering if I should use 15 year loans and get the houses paid off and then have full cash flow from all the homes.

In Texas we typically see 2.5% points and 12-13% interest for new investors and down to 2% points and 11% interest for more seasoned investors.I personally have never had to pay an application fee.

Once the property seasons in a year (April 2019) we plan on doing a commercial LOC with the bank that we have the loan with for the that is already there.

I know you said owner financing is not an option, but...Have the current owner sell the property to you and hold the paper.Refinance with a new loan that does not require seasoning or income verification. 

Our turn is weekly during the summer season (Vacation rental) and a minimum of 2 nights "Out" of season so we clean it a lot, and each couple alternates every-other turn. 

They college areas are older neighborhoods that were built at a time when one car per house was standard, so even three cars is an issue. 

Residential lenders require a 6 month seasoning period before you can pull out anything more than your initial investment ($60k). 

As they are getting older they would like to put it in a Trust in which I would be apart of and be the successor trustee.

In January of 2017, we found our current tenant, an older divorced woman in her late 60s.

Hello ,

I've been around real estate most my life, but I am new to owning and renting.

Does it make financial sense to update a nice but outdated SFH for renting?

I can understand the benefit on the selling side ,...