They have rarely had any long stretches of vacancies during that time and have a steady monthly stream of income.

In the last 60 days or so, I've wholesaled properties in Carol Stream and Villa Park.  

SHORT TERM STAYA dwelling unit that is leased to overnight guests by the owner of the dwelling unit who is not on premise during the stay

Code § 1701j–3 - Preemption of due-on-sale prohibitionsSee the exceptions(d) Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon— (1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property; (2) the creation of a purchase money security interest for household appliances; (3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) the granting of a leasehold interest of three years or less not containing an option to purchase; (5) a transfer to a relative resulting from the death of a borrower; (6) a transfer where the spouse or children of the borrower become an owner of the property; (7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; (8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or (9) any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

Everyone should do some basic estate planning.Insurance is more of a concern, your property is probably insured as an owner occupied dwelling, that generally means more than 6 months of a year and being there with no more than a couple weeks away.

-They are not completely honest with what the situation is or misrepresent the product.Many times they are too eager to make quick money and have no clue how to build a business, scale, and transition into other streams of income.

-Owning a property management company-Owning a brokerage-Transitioning to commercial real estate-Having more fingers on the pulse of the real estate market-Having multiple income streams for business activitiesConsider that you are a successful REI and decide you want to own your own property management company and mitigate risk by managing internal and external properties...UH OH.

In a nutshell/simplistic form, the bank/mortgage originator originates the loan to the GSE's, the GSE's package it into MBS, issue a  credit guarantee on the repayment of the MBS cash flow streams, and sell it to a private investor (even this is a bit of a misnomer, but the most straight-forward way to explain it).

Their having sold you credit insurance gives two benefits: a rich stream of premium payments (you can bet that this is priced so as to be highly profitable) and their insurance products giving financial reserves to cover potential losses which would otherwise have to be recouped through collections activity.So my response to this when the banks routinely offer this insurance is to say that we will self insure.

The dwelling does not meet our minimum underwiting requirements as it is no longer owner occupied'What actual insurance policy do I need to cover myself here as a landlord, given the regular Homeowners coverage is done thru the HOA?