In this inverted yield environment we are paid well to be patient and strategic. 

Economic environment is still hard for many people with rising costs and mostly-flat wages.

By Southern Illinois I mean anything outside of greater Chicago and environs.

This seems to be a reasonable approach but what happens if the macro fiscal environment further deteriorates leading to declines in home prices? 

Guests still want to travel despite the economic environment and can enjoy their family in with this economical vacation.   

Investor-Friendly Regulations: Branson has generally maintained a positive environment for STR investors, with regulations that allow for the operation of vacation rentals in zoned areas.

for that to happen, 1 of the following must occur:1) he finds an extrememly undervalued property initially (not sure that happens in this environment where it seems like there are tons of "investors" searching for properties and the city we live in seems to be in a "boom")2) he gets the contractors to do work for below-market price.

However, I feel the cheaper areas in Redlands could lend to a safer environment and potentially more stable tenants?

Perhaps  you also have such an immediate  and intense response  for your own reasons, assume i just cant take a differing opinion  & therefore  resort to name-calling.Perhaps  egocentric  or insensitive  would  have been a more appropriate  term to use,  but given the current  environment,  more professional  behavior  and response would  definitely  be appreciated  in the response  and input provided by an individual   entrusted with the position  of moderator.Perhaps  we can all learn to be more sensitive and professional through this experience.  

You already heard what will be my recommendation: cash out refi.It’s easier said than done in today’s environment, and something I haven’t done yet-my first cash out refi went to financing a foundation repair in the same house, and with rates at 7ish %, I don’t get enough return after fees and closing costs to do it now-just timing, but is the longer term plan.Look up Michael Zuber-One Rental at a time.