You could also do a second on another property, or several others.I'd suggest too that you start looking at a blanket mortgage on several properties (with a release fee on each) and begin consolidating the debt to free you up for financing.Creative financing is utilizing the assets you have to leverage a deal within the boundaries of conventional requirements, the rules and regs, not getting wild with schemes. :)

Or better yet, what is the '2% Rule and the '50% Rule'?

I'd use the 50% rule for this.

I really am not desiring to manage my properties myself, it's not in my long term game plan.The town is small and with city codes I don't know that they would accept a box as an address as well, and I tend to try to play by the rules and codes rather than break or bend them, but that is just me. 

So if the OP's goal is 10K/month, and we use the 50% rule, and go for properties that rent for 1200/month, that's 17 properties. - Set about acquiring properties as fast as is prudently possible, with the best financing rates you can get, that cash flow with the financing in place.

But lots of companies do use the higher-rent-for-shorter-term strategy.I'd add a fourth option - terminate the lease at the end of July.

Are you familiar with the 50% rule?

You'd want it to be 1k/unit to hit the 2% rule, but I'm guessing it's much closer to half that.

[url]http://rules.sos.state.ga.us/docs/520/1/05.pdf[/url]http://rules.sos.state.ga.us/docs/520/1/07.pdfThere are specific rules where you have to surrender your license if you go full time with a company as an employee etc.

Fourth- residential rental.