We all crave finding a deal, In today's market, that results with a lower interest rate than traditional lending.

8.5% is a bit high on the rate but that's our current market.

Our long term exit strategy will be to eventually sell some of the units as the market recovers . 

Hey all wondering if anyone has any specific method especially for a newbie for doorknocking to find off market leads.

- What markets make the most sense for my budget? 

After about 3 weeks of researching STR strategies, a few lake markets in MO and AR, and taking a hard look at our current finances, I contacted a few agents in the area to get started.

Put the cash in your pocket and escape that market.

(b) Required Documentation (i) Limited or No History of Rental Income Where the Borrower does not have a history of Rental Income for the Property since the previous tax filing, including Property being vacated by the Borrower, the Mortgagee must obtain an appraisal evidencing market rent and that the Borrower has at least 25% equity in the Property.

I see no reason that I would expect poway or Mira mesa to out perform the general San Diego market.  

Make sure to keep records of your efforts to market the property for rental to demonstrate this to the IRS.