The owner's identity and whereabouts are irrelevant if you elected to use the SDAT process.

I'd be interested in that, but at 7% the rate isn't that much better with a regular 30 year fixed cash-out refi, so I'd still be in a position where the rent collected doesn't cover the mortgage payment for awhile.

I love the idea of purchase an STR in an area where you regularly visit! 

We have about 3k a month in regular expenses.We can rent out the entire property, or rent it out by the room, since each room has its own bathroom and they all open up to the pool area.I would love to get some of your feedback on our listings for the rooms that I just put up on Airbnb.have.Thanks in advance for your feedback.

I have been to an airbnb that had a smart deadbolt that the host had connected to a keypad to be like a regular smart lock.

I finally reached him today and he confirmed that it just need to be a regular Building Permit and mention in the description that it's a bathroom deconversion, removing fixtures, etc.

Is this a flip....or just regular resale.You are right to be concerned though. 

Roofs, AC replacements and septic field replacements come along on a regular basis… and just starting out a $4,000 AC, $8,000 Septic field, $12,000 roof repair is a distinct possibility - so you need a plan.  

On top of all of that, Cash out refis typically come with a .25 to .50 surcharge on the cash out part… so whatever the regular rate is, they will tack on more for the cash out.  

If they are familiar with doing RE transactions, then they may be alright to go with, but if they don't do them regularly, pass.Cheers!