We had a good web call and we're trying to upload the recorded version to our site.

Is there a lot of foot/car traffic? 

Another flip side would be to try and grab some traffic from I-94 through town and operate as a STR.

So the question I have not been able to find searching the web is can I qualify for an FHA loan where I already have an RD loan?

Sure a spreadsheet is good for running numbers but the other 98% of the systems to create is far more software related.there are web apps for quickly running comps, for example.

@Bonnie Low In my opinion, because of how differentiated these types of market are in terms of short term rental traffic, cool strategies like this one can be replicated.

If you're laying it down in a bedroom or something with lower traffic, then you may be safe with as low as 6 mil. 20 mil is better suited for people with kids, animals, or heavy traffic areas.

@Kris MayorIt is possible to get owner financing and there are web sites where the owners list properties directly BUT with rates so low and it being a seller's market in your area, it will be tough to come by.

It will tell you how to break it down.Go multiple houses determine what needs to be done in the house, what need to be updated etc...Make a list.Then use calculators like home depot ones and spend some time in hode depot web site to decide material cost.After that you need to determine your scope and talk to plumbers, electricians etc.Have some kinda a scope and details list for them.You should be good to go.You need to spend some time, nobody can tell you exactly what it is.

Taxes can be obtained from the county appraisal web site.