We will need to verify the rents can support the mortgage payment, via a market rent 1007 (if the property is vacant) or a lease agreement (if tenant occupied).

It doesn't matter where that money came from initially. 

Cons:Lower Cash Flow: Properties in cheaper markets often have lower rental yields because I have to pay taxes, insurance, CapEx.Market Risk: Cheaper markets might be cheaper for a reason, with slower appreciation and higher vacancy rates.I won't fix my foundation.

Due to the market appreciation during the last few years of regular payments I was able to remove the PMI from all loans except for one.

To your knowledge, you think oceanfront studios are also profitable market for STR?

If you know the game and are scaling up, I would go straight to a 4/5 bedroom. 2 and especially 3 bedroom homes are the doldrums in most markets.

It's a win win for everyone.I don't do property managment, we do free tenant placement for all our investor clients that purchase a house with us.Also you can put it on Facebook Market place for more exposure and then redirect them to the zillow link for more information and application process.I hope that helps.Best Regards,Lily Rodriguez - Investor friendly Broker

Please Please Please send me all those off market deals that I can buy like this and also BRRRR.

And in your market the lot costs are so low you need to pay cash for them and may still need more equity/cash.. in higher priced markets were the lot cost might be 40 to 50% of the total cost to build you can get a land advance but your still going to need equity/cash to do those as well.so thats your mission find a captial partner.. or put a syndication together to raise the money and partner to build out the homes.. really going to depend on what kind fo NET NET NET profit is on each home after land a build costs. 

The husband or wife loves the home or the neighborhood or the fact that it was just renovated and now priced at top market value.