Long term, you have more control and if you get deals it is cost effective.

In the first instance, it would probably me more cost effective to build self-storage units.In the latter case, what would be your plan when the person no longer wishes to rent the unit?  

Though not always effective, if the seller will let you, I've found it helpful to visit with the tenants prior to the close of the deal.

But if there are any remaining adults or eggs after the 2nd, the 3rd will take them out.It's much easier and effective to treat an empty unit versus one with people (and a food source in them).

What this effectively would tell me and the argument I would want my attorney to make is that you did this purely to establish a higher degree of anonymity from you tenant, but never actually had the intentions of running a separate business entity. 

Disclose Disclose Disclose.1) Make sure everyone in the transaction knows that you intend to purchase the property within the stipulated period and sign an agreement to that effect.  

If you are holding a second mortgage it should contain language to the effect that a default on the first mortgage is a default on the second.

I offer a shorter term lease if it suits me- if I am trying to get the turnover date to line up with the best season- later August, or if it already doesn't turn over in August I might offer a shorter term.  

How much will the rates effect me on a 90 day flip?

My last four houses have been in flood zones and it had no effect on the sale of the properties.If you think I am on a coast somewhere the properties were actually in the desert  of Palm Springs, Indio area, The flood zones were classified as once in a 100 year flood zone, Also to mitigate the insurance requirements you just have to submit a elevation report some on file with county some had to pay for.