There are quite a few homes and condos there that are fractional ownership.Seems to work for folks that don' want to pay the full freight but would like to use a nice home 10 weeks a year (or whatever).

Hi Folks,I'm loving the help and advice that folks are happy to give on this forum.

Maybe if you've done 50 deals and they know you are safe, but as a newer investor there are no ways to do this in the real world.In the day before the GFC this is how all OOS turn key worked:WEst coast marketing companies would get buyers  ( these folks are still in business as we know)rehabber in the market  Pick any turn key market would find a home that they could buy rehab and sell at 65% ARV  which today pretty tough but in those days my company did close to 2000 of them as the A and D lender.So we would require ONLY 1k down from the borrower  ( so not no money down but pretty close)  I would fund the purchase and rehab the rehaber in the market  say Detroit Chicago Memphis Jackson KC Indy those were all my markets. would do the rehab and once it was done they would do a refinance now my LA based buyer was already pre approved for the take out ( REFI) Just subject to a 442.. we routinely spun these deals in 90 to 110 days start to finish.. the LA based buyer would then do a 75% cash out refi and pay me off  and they would normally pocket about 5 to 8k in cash that was to be used for reserves.. so no money down and actually cash out.My flipper made his money the west coast marketing guys got their commish and I made my fee's on the HML..  

I have worked with folks over the past 20 years who owned many and still own a few properties in each community.

The folks are flying. 

Thanks folks.

For example, nowadays with properties being sold at $10k's over asking, your home's market value could easily be $100k more than it was last year. 

Many folks will say it is all about numbers and nothing else. 

I'd certainly run whatever I was planning on doing by my loan officer before I did it, just looking for how folks generally handle this. 

Over the long term, the rate difference will be immaterial because you have locked in a very low interest rate and can always refinance later if rates dip lower enough to justify the cost.I encourage folks to look for ways to invest without debt (equity partners, lease options, etc), but if you're going to get a loan, go for long-term, fixed rate.