Some people have made a lot of money betting on the reverse though. 

Your best bet may be a rate term refi

A win-win-win situation.

And, quite frankly, cities with no regulations today often create regulations in the future.It is a much safer bet to find a locale that has definitively legalized short term rentals.

Now you can flex your muscles at your hubby and I bet your tenant is a bit embarrassed.  

You might be able to win his inspection fee refunded if he’s still in business, MAYBE. 

But we consider cash neutral with our stringent criteria to still be a win given the appreciation.However, I have been looking at a lot of the new communities being built around North Alabama - and I would be very cautious with these opportunities. 

We got a house for $10 dollars, and they can move on with their lives.Because we deal with true motivated sellers (by definition, "motivation" means that is is not necessarily about money) we can easily solve problems for true win win situations.

I would still think it would be worth a purchase and a win for both of us if I can get it.

If we did win the bid do the current owners have the right/ability to stay in the house?