We'll then write a promissory note for the amount, maybe attached by mortgage (if not, a lawyer said attaching a judgement lien upon default isn't too hard, provided no chapter 7 bankruptcy filing).Has anyone done this post closing?

If you proceed without any adjustments, the following will be true: - 50% of your potential depreciation recapture will be recognized immediately and become taxable in the year of sale

You have become an insurance company, only you didn't get a just premium.The potential of rent forfeiture is part of the business in reserving a vacation home, and everyone knows this going in.

Looking to meet individuals generally and build my network, but would also love any advice on this area, contractors, realtors, lawyers, and any other general guidance with just starting in.

@Alex Jacobs the more bedrooms the more potential income.DPA programs though, are usually limited to single unit homes.

I believe that these days nothing makes sense, and rather buy something that could potentially make some sense as long as you don't lose, what do you think?

I had a ton of traction from potential tenants this past week, a total of 6 showings all with promising folks.I have done simple pre-tour screenings to see if these people are worth my time and they are.

My mortgage broker is telling me this is an up and coming area that is low risk, high reward potential. 

However, I would go through a RE Lawyer and see if you can get one from them.

It is a fine line, thats what i'm trying to figure out how to navigate without crossing that, but also not pushing the potential seller completely away if possible.