But I would say don't sleep on Bean Creek or Christian Park!

Though I personally would rent a house on piers over a traditional home assuming everything else is comparable.  

Maybe an AirBNB or something like that but not on a traditional rental. 

However if you are going to park your funds and have debt on the property a traditional bank will require it to cash flow at 1.2%.  

They have many of the tax benefits of traditional RE transactions including being common to use accelerated depreciation to offset the gains from the exit of previous syndication.  

@Christian EhlersI have been looking for small multi family homes the past year.

Quote from @Christian Ehlers: I think there's some great pieces of advice from everyone who commented thus far.

I ran around doing open houses and wasting a lot of time trying to chase "traditional" business.

Non-QM loans allow you to qualify based on other alternatives instead of the traditional DTI method ((DSCR for example when the monthly rents > monthly PITI (principal, interest, taxes, insurance) = you qualify)).

From a PM standpoint renting by the room is going to be quite a bit more work than renting traditional apartments.