You might have to try a portfolio lender for a bit until you can refi out of it into a traditional mortgage program once your income is established.

The larger question is, as we continue to invest in income/rental property, do you at some point depart from the traditional mortgage loan, since we want to leverage our cash as much as possible, and so far we've been riding on my income and savings, both of which are high at the moment.

My goal right now is is to create enough cashflow to quit my desk job.You're right, the rent for the cash property should be a little less, something like $725.

I wonder if anyone has info on how it is viewed in a more traditional vacation area versus non or large city versus small.  

Worst case, it's only a few days.Now, I get that it may be more regular maintenance (changing sheets, cleaning bathrooms, etc.) than a traditional rental.

Problems start due to CA REI's:1 - Lack of MI Market knowledge2 - Lack of Power Team in MI3 - Distance4 - Management5 - ...and more.This is why I stopped going with the traditional Turn Key model with my CA (and other OoS) Partners.  

I did not list the traditional way because of the slim profit margin.So here's where I need some good analysis: Being an optimist, I look at this as I paid 250.00 and made 4,000, subject to short-term capital gains and in the process I learned A LOT.What do you see?

I heard that it will be nearly impossible to get traditional financing with an LLC, is this accurate?

Also that lot isn't "on" lake Minnetonka, I mention this in case you think it is...Few concerns I have are as follows:-I don't think you will be able to get traditional financing. 

However, it sounds like I need to just go the traditional 30 day eviction route.