People are willing to pay the high interest rate because they expect to pay off the loan quickly.If you own the home outright, you would go to a traditional bank to cash out the equity.

I did auctions for a part of my 10 year career when I thought flipping homes or doing condo conversions were the way to go. then I got into ground up construction and national construction and ground up is the way to go.

I invest in the louisville area as an out of state investor in single family homes and I absolutely love it.

For example, if you buy a $400k home and put 20% down (say its investment) your loan is $320k.

Maybe in July and August yes, but during the rest of the year Poconos homes mostly only book on weekends.

We have one of these at home and they work great!

So if it was a Home Owners Association suing for their HOA fees, any primary mortgage would survive.  

Same with maintaining the home.

I've looked into motels, RV parks, mobile home investing, etc.

I am very familiar with home sales, having moved 5 times and bought and sold 6 personal houses.