t=3243&highlight=Posted: Thu Jul 13, 2006 9:22 am Personally i would take a few BASIC steps, and one of them is NOT "just buying the land and hoping to get zoning and a LDP for I want"1.

I didn't find any challenge finding quality tenants by posting on FB marketplace, roomster, roomies, basically all of the websites. 

Hi BiggerPockets Community,I’m heading to The National Due Diligence Convention in Houston this weekend.  

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

Your questions are fine, but I would be more worried about the asset and the future cap ex than the renters in general.

I've heard of people having pretty good luck with mid term rentals in Rochester because of the Mayo like you said.

You should always run your numbers for both before you offer just in case something goes haywire on one end.

Most home buyers don't shop loans and just take whatever the mortgage broker is selling them.

It's not like people won't know that the property isn't in a flood zone; if they finance it through traditional financing then the lender would most likely require that they carry flood insurance. 

But get them and the family staying in the home both on the lease since the insurance is paying the rent, but the family is usually responsible for the deposit.