I’ve been thinking going the second home/ mid term/ str route. another thought I have is venture further into a rental property but I know with rates, finding a deal that would cash flow would be tough. 

You can also usually get a conventional loan with more favorable terms if you are living in the unit for at least a year. 

In the process of trying to do a full cash out refi right now into long term non-recourse debt.

In terms of maintenance cost and liability the PB Court is a no brainer.

Sometimes its nurses but it casts a wide net so you get all types of people who might need a mid term rental. 

I'm working on an quad project right now that needs work, but will be a good long term hold.

Prepayment penalties- usually 1-5 year terms.

I own couple of single home rentals in Tampa Florida and have always wanted to transition from long term to short term rentals.

This can have a very beneficial impact as personal property typically has a much shorter useful life for depreciation purposes than real property.For example, if you are getting a cost segregation study performed on a commercial office building, there will most likely be assets that have been classified as part of the building but are able to be reclassified to real property and depreciation over a shorter useful life such as 5,7 or 15 years rather than 39 years.

I'm  Bethany from New Jersey, just learning and breaking into real estate investing and hopeful to purchase my first short term rental property within the next 6 months.