And our family loved visiting when not rented.

It's a combination of three things - rates, prices, and rents.

Considering their LTV is at market or debatably below market (depending on the asset), if the interest rate or loan terms aren't advantageous, I'd also suggest getting quotes from other lenders.Since you are located in upstate NY, I'd look for local banks.

You have to have a system set up for vetting guests, creating leases and collecting deposits and rents.

What is the maximum time you allow for payment of security and 1st month's rent after an applicant signs an ONLINE  lease - 1 hr, 24 hrs, 48 hrs?

Economic resilience: The Midwest's diverse economic base, including agriculture, manufacturing, and emerging tech sectors, provides some insulation from market volatility.As an active investor in Wisconsin and Minnesota I have seen a lot of great growth from appreciation and rent.

Who’s collecting rent and dealing with the tenant?

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

We do not have much at all saved up for a down payment and are looking at areas in the south because of the low cost/medium rent.

The strategic location and swift transaction made it an appealing investment opportunity.