@Jean Taveras I just recently relocated to South Florida and looking to connect with professional wholesalers in the area, with legit properties.

Once kids are in the school, I doubt they'd want to relocate.

If you can't pay for the mortgage without the illegal unit income, costs of eviction, plus relocation costs to the tenant, this is super risky and you should evaluate your tolerance.

if you are getting the property at say a 50k discount then it might be worth having them in and coming to an agreement w the tenant or relocating them or just evict them upon default.  

I do not believe I can use the FHA mortgage again unless I am relocating to another city.

I'm looking to relocate to one of those South Berwyn homes this summer so get more for my money than I currently have in Oak Park.

I get a lot of people relocating for work and their company will rent it for a month to get them established, but I do 30 day mins to comply with the STR rules.

I really don't want to buy $2.75M of new rental property in a lower cost area because that sounds like a lot more properties to manage, which means more headache and stress.What I was thinking of doing was buying a $2.75M Honolulu single family home in a nice area like Kahala, rent it out for 2 years, and them move into it once I relocate to Hawaii to be with my family.

With GE relocating their HQ to Boston, that's an encouraging sign, but 800 jobs isn't going to swing a market one way or another when the city (boston proper) has over 600k people.  

I lived there for a few years then needed to relocate.