My goal is long-term appreciation on a property w/sufficient cash flow to make a long-term hold practical.

Hello, The second mortgage would be a term loan, typically 30 years in second position against the property.

I ended up sending an email with a notice to vacate with 45 days where he violated the lease term: "Tenant shall conduct himself/herself in amanner conducive to the peaceful enjoyment of the Premises.

Location is 1.7 miles from the beach, also extremely desirable whether it is annual or short term tenants.

And of that, you might need to talk to 30-40 sellers with proper sales skills and follow up before you come to terms with someone to move forward with a purchase. 

The location defines all long-term income characteristics, including whether your rents keep pace with inflation, the total capital required to acquire sufficient properties to maintain your standard of living, and how long your income will last.There is a straightforward location selection process.

Going over your numbers, have you considered a long term rental instead?

Terms of your contract will control Typically, the agreement with be either a specified term or month-to-month, and should have a termination clause.

Rent has been a little less than I expected, but I believe that this was due to a temporary glut of long-term rentals when the city made short-term rentals illegal last year in most situations. 

But, then had: - Late fee splits- Pet fee splits / collected by PM- Leasing fee of 50% for new tenant- Renewal fee- Service fee for work done on the property- Higher fees for certain tenant conditions- Receives all interest on trust accounts- Full page of admin fees including resident liability program, benefit package, pet initiation fee, credit reporting fee, tenant lease renewal fee (in addition to renewal fee charged to landlord), lease draft fee, application fee, utility concierage service fee, legal notice service fee.