I also found a bank that would finance that low cost of property as a regular 30 year loan so payments on debt is way low obvious $100 - $120 per unit.

CA taxes residents on worldwide income but may provide a credit for taxes paid to other states.

Once that is completed, then run the credit for those that meet the first round of criteria.You can double check but I have not heard you have to prioritize a Section 8 tenant, you just can't reject them because of source of income.

I'm a credit union person overall- it can be a little less friendly for multiple accounts, sharing funds ect. 

At that rent point, maintenance, cap expense, and tenant turn over will consume a lot of the rent resulting in low cash flow per unit.  

Over the past 5 years there has been literally several thousand 4 beds and 5 beds built leading to an over supply of this size cabin in low and mid season, which is leading to lower returns.

That's primarily due to the collateral that is the policy death benefit....low risk for the insurer because they know, eventually, you'll die and they'll recoup the outstanding loan before paying out the death benefit.

Start now do not wait you obviously have the good credit and income to start the process.

If you're leveraging a low down payment, then this can majorly boost your return, because you get 100% of the appreciation not just 3.5% or 5%.3.

I have often thought of doing the same thing but I have a 2.9% IR on my duplex which is so low that I don't see much of a reason to pay that one off quickly.