The grandson which also claims to be "adopted" by his deceased parents is now living behind the home in a vehicle.

Like month to month (instead of year leases), rent late the second day (instead of the 5th), and a limit to the number of vehicles and working on vehicles and storing vehicles.

If I can get 8%+ in another investment vehicle there’s no way I’m dealing with STR’s below that number...waayyy to much work!

I would go tear up that garden and tow the vehicles. 

The good:Clean cut, well spoken, has 2 verified sources of income (one is a transportation business he owns) and meets our income qualifications, good payment history for the past 2 years according to credit report, good communication with me, jumped through all of my hoops.The bad:While the past 2 years are "clean"....Chapter 7 Bankruptcy in 2013, Eviction (says he co-signed with a girlfriend), 2 divorces (which led to bankruptcy) and a "failure to operate vehicle with license" on criminal report. 

And there is limitation based on type of vehicle.

I actually drove a vehicle no-one would be seen dead in so my social life was null & void & I picked up a lot of electrical & construction work at night on other properties to pocket some cash.Hang in there!!!

Foreclosures are such a popular investment vehicle that as soon as a home gets down to the strike price it gets snatched up.

When defining your primary residence, the IRS would look at facts and circumstances such as: - where you spend the most time- where you get your mail - where you’re registered to vote - the address on your tax returns - the address on your drivers license and vehicle registration Clearly if you rent out both sides of a duplex, it’s not your primary residence.

But consider how I'd use a portfolio lender for a buy-and-hold property: I'd use their loan to purchase and rehab the property, and when I'd finished rehabbing in 3 months, I'd refinance the loan to a 30 year fixed (or whatever vehicle makes the most sense) and pay off the portfolio lender anyway.