Based on those assumptions it would take a down payment of 39.5%, or $226K, to have break even NOI.Am I missing something major in my estimates/analysis or is this marketed purely as a "buy for appreciation cash flow be damned" investment ?

Account Closed, just to give you one clause of the hundreds involved:"You agree:a. not to give, and to ensure any guarantor does not give, any security interest over, or deal with the title of, any secured property without our prior written consent; andb.that we can demand immediate payment of the amount outstanding (or any part of it)and/or cancel your loan amount if (without our prior written consent) there are any security interestsgiven over, whether registered or informal, or dealings lodged on the title of, any secured property.

In addition, are their outstanding capital projects they have been deferring that have the potential to result in a special assessment.

I use Traditions Realty to find and qualify tenants, they do an outstanding job and if you tire of managing the property, they can do that too.

So hypothetically you could live in your main house and still rent out your accessory house that you have on the same lot as an STR... or if you live in a duplex for example you could rent out a side.San diego I guess tried to find a middle ground when it came to accessory units being used as an STR, but frnakly san diegos laws are pretty damn harsh towards strs in general, about as bad as NYC

Our initial application gets their current residence, how long they've been there, landlord contact info, employer, salary, how long they've been employed there, family size/status, pets, cars (years and type), whether they've ever filed for bankruptcy, had a felony conviction, owe any outstanding balances, and other similar information.

Damn...I think I could hold on a year or two, If I was making improvements that I knew would improve the business...but 10 years???

He printed the notice, but after that hasn't done a damn thing.   

I have read of plenty of people making deals with no money out of pocket and feel it is about damn time I am one of those people!

I did have a steak at M&K near Libby, MT that was outstanding.