When we aren't there, we would definitely rent it out for weekly rentals.Numbers:Have up to $100k to invest in this Duck propertyConsidering homes in the range of $750k-$800k that attract around $70k annual rental income.We know that we will likely only use the property in season for a week or so, but we would be using it more out of season.Any reactions from investors who have considered this/similar situations? 

By going to the meetings you will be exposed to many different types of real estate situations. 

Texas answer:Keep in mind that in Texas most questions like these can only be answered with a most likely or probably as we have elected officials(Justice of the Peace) that are not bound in many situations by precedent@Robert Clement Can you still evict for late fees?

They were so stressed out by wearing all the hats on the job that they almost threw in the towel.

I appreciate your input on the situation and am glad I posed the question to the forum. 

She’s a friend so we really want to handle this situation well.

These are all conversations you will want to have with your attorney and CPA so that you get advice specific to your own situation.

So unless your into similar situation, it is better to cash flow positive on day 1 if house price has little appreciation in the future.

Depending on your state's requirements, I usually will buy decapitated ugly homes directly from the public with no agent involved and in those situations I have a disclosure that states specifically that the seller is selling the home significantly below market value (I also wrote the the ARV in there so theres no evidence that the seller or buyer didn't know what they were buying/selling).

This is always a tough situation.