Since there's no mortgage, you would count on repaying your investment with the cashflow it makes above monthly maintenance costs.

We shouldn't take the general wisdom of BP and follow it blindly given our unique circumstances.

@Michael Fellers The Lake of the Ozarks is a great place to be and invest but it is a unique area from a real estate standpoint.

This is a unique situation, however many out-of-state investors had trouble since it was in their policy to underwrite at a 5% vacancy rate.  

20 year DRAW Period followed by 20 Year repayment period (40 year HELOC!!!)

So your situation is fairly unique.

There are 2 types of FHA 203k's each with their own set of unique guidelines.

I understand the due on sale clause and that technically the bank could call you and ask for repayment on the mortgage.

www.biggerpockets.com/magazine) if you have a fun/unique retirement story to share:-Did you retire just before or during the pandemic?

If you have less than a 1-year experience and no obligation on your credit report your personal income must cover the $500 dollar mortgage payment for DTI purposes.So, depending on your unique situation there's 3 outcomes DTI wise.