He could have just as easily signed an extension and then cancelled on the orders.

So when I have to do a investment property for the bank and they want a rental analysis the only data available in mls is long term rentals and it can be a third of what short term brings easily. 

After all, you can diminish the value of your home easily with a DIY project gone wrong.

I haven't toured the house yet, but I think it also could easily be adapted to a multifamily with an exterior stair access or perhaps an interior one, but have to look at it  However, it is also in a real nice neighborhood of old SFR just like it, so I'm hard pressed to want to ruin the outside appearance with a stair case.Sooo...First question - is a three story, 4 bedroom, 3500 sgft house too big to successfully rent in the SFR market?

Given that my mortgage, taxes, and insurance will be less than $600/month, I feel like this property could cash flow very easily if occupied (one unit could cover all expenses).

You should be able to easily double your income with this approach.

Things to know -- we live in a very hot market and the condo is in very good condition, so it would likely sell quickly and easily. 

If you are near a downtown or a major employer hiring young people, or a university, a 1/1 will rent easily. 

It could easily cost more than $800 just to defend yourself and then you may still be stuck giving back the $800 plus damages back.

I should also note that the volatility is almost exclusively in the negative direction - things can easily go much worse than budgeted, but they almost never go much better than budgeted.