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.

However, I only plan on staying in the property for one or two years before moving to a new home.Do I have to live in the property for the entire loan term (i.e. 30 years), else have my loan revoked?

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. 

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

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.

if an extension could be $10,000 up to $150,000Fire Hydrantif needed, $3,000Sewerif needed: $5,000 plumbingSewer Lineif needed; $10,000 up to ????

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.

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