I think especially for someone who digs in and sees the work expanding, and who is hiring hopefully knowledgeable people instead of being one, it’s best to err on the side of the permit caution.

Of course, it makes your loan higher which means higher monthly payments so be sure you can make those monthly payments.Leverage is great, but it cuts both ways - it can magnify your return in good times, but it can also magnify your losses in tough times because you have a fixed payment that needs to be made every month whether the unit is rented or not, whether the rents are high or cover the expenses, or not.I would caution you to ask yourself, if your other unit was vacant for 6 months, could you carry the loan payment on your own without difficulty?

Another caution I see posted deals with "tenants" that may already be occupying the property.

A caution, particularly for newbies. 

I have been told and read its best to put the property in a land trust as an extra layer of caution for the "due on sale" clause if the seller is nervous about it.   

Your whole paycheck, any side-business money, all your emergency funds.Some people are afraid of this philosophy, and there are a few reasons to express a certain amount of caution, but if you make more than you spend, you won't be hurt by this philosophy. 

I would caution you to push back your work-quitting deadline until you have a few years of actual numbers from your property(ies) and you are certain of your cashflow stability.

Again, my next one will be with more caution, though.

The conclusion I got from the research we did is that 1- and 2-bedrooms cabins did very well, and so did the 4+ bedrooms but we were cautioned by multiple people to stay away from 3-bedroom cabins because they weren't seeing the return on those like they were from the other options.

I will caution that they are picky about certain things.