You need to factor the cost of refinance (average $7K which may change depending upon the price of your home)

Since you'd be looking to hold this property long term, look at what the property's cash flow and appreciation would potentially be 5-10 years down the road to help inform your decision.All that being said, if you feel confident that you can cover the maintenance, capex, vacancy loss, turn expenses, and leasing costs for a few years while you wait for the cash flow to improve, and you have enough risk tolerance to handle a potentially difficult tenant in the first few months which could lead to zero rent coming in during that transition to getting a new tenant in place, then it sounds like a solid deal to get into with $0 down.Lastly, I'll also caveat all of my statements above by mentioning that this all requires you to self-manage the property. 

@Dulce DavisSome private firms would consider blankets but they are gonna cost 2x traditional financingI would take the one with no mortgage and leverage that to buy another and keep doing that - also once in a while may consider selling some inventory to get more cash

Then I would get an attorney to help with the eviction cost. 

Total cost to me = Free estimate. 

Before you spend any money, you just need to price everything out (i.e. cost of homes, moving costs, installation, hook ups such as electrical, water, etc). 

You can maintain a hands-on approach or enlist professional management services to streamline operations and maximize efficiency.Strategies for SuccessLocation Matters: Focus on neighborhoods with low vacancy rates, good schools, access to amenities, and proximity to employment centers.

It comes free with my MLS subscription as an agent, not sure what it costs outside of that. 

All of your equity will be eaten up by closing costs alone  

We seek a good realtor with STR investing experience in Boyne City or any good and upcoming city in Northern Michigan with Low to Moderate restrictions.