Keeping one's word is important, to a point (when the whole economic picture changes, re-evaluating your choices is something most people can understand).

So I think a  lot of folks coming to the area are coming because 1) they can drive there and 2) their first choice vacation got cancelled and I think a lot know there are bargains to be had right now.  

What's important is what has happened from there.Your inspection contingency gives you room to make a choice at that point.

Ulrick,Ryan is correct, use of leverage in self-directed IRA will result in Unrelated Business Income Tax on portion of the income.

@Ryan Groff In Raleigh, you can't have more than 4 unrelated people in a house. 

@Ryan Daigle - Thanks Ryan!!

@Ryan McKimm I think you misunderstood my intention.

I've found old garages are more of a liability than a good investment in the lower rent areas unless you get lucky and get one that isn't falling over - it will cost more to bring them back to life or replace them than it will ever bring back in rent and therefore, the best choice is to remove them and spend the money on a new parking slab - obviously a property that already has that done is a plus (people use them as storage lockers too, then leave it all for you to clean when they skip out later).

@Suzette Kim - In addition to what Ellis wrote, I'll add the following: if you KNEW for sure you'd be out within about 6 years, the ARM would likely be the better choice.

II think airbnb has no choice they have to follow what the hotels and airlines are doing right now.