✓Second Home Requirements must be occupied by the borrower for some portion of the year is restricted to one-unit dwellings must be suitable for year-round occupancy the borrower must have exclusive control over the property must not be rental property or a timeshare arrangement1 cannot be subject to any agreements that give a management firm control over the occupancy of the propertyhttps://selling-guide.fanniema...

Norris; Pool)— i.owner's intent (nature and purpose for which the property is acquired); ii.The extent of improvements and advertising to increase sales; iii.number, frequency, and substantiality of sales [this generally is the most important factor (SuburbanRealty Company)]; See (c) below iv.duration of ownership; v.continuity of activity related to sales over a period of time; vi.extent and nature of the efforts to sell the property; vii.The extent of subdividing and development to increase sales; viii.use of a business office for the sale of the property; and ix.character and degree of supervision or control over representatives selling the propertyNote: Per court case SUBURBAN REALTY CO. v.

ValuePenguin is a good source for the relative cost of insurance by state.Operational Costs - Costs like property taxes, insurance cost, state income taxes, regulatory costs (ex: time and cost to evict), inspections, rent control, etc., have a tremendous impact on your return.

It takes less than 5 minutes to google most expensive rental markets versus rent control markets, or average rent before rent control and after.

Accomplished the goal of saving me money, as well as, entering the world of LTR in a way where systems can be established and learning happen in a small controlled way before embarking on bigger investments and using OPM.

Then, you can either try to manage it yourself, or hire a property management company, but expect to give the property management company a big chunk of your profit and expect their will be a lot of inefficiencies when you have a property management company vs. being hands-on where you have much better control and don't have to pay someone to make mistakes on your behalf.

Rent control?

But rather than let it control me, I listened to it.

It is seems to be an effective way of controlling people. 

@Ryan Maguire water in basements in the Midwest is almost a given unless you take steps to control it...what you are describing is a freak event...the sewer system was overwhelmed...getting 5in rain in this part of the country usually only happens from hurricanes from the Gulf...Sounds like you got it sorted...could have been worse