Many OOS investors set themselves up for failure because they don't invest the time to ACTUALLY understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.Class A is relatively easy to manage, can even be DIY remote managed from another state.

There are multiple different ways to do this and will depend on your strengths / connections. 

It will require getting higher coverages on your properties but the cost difference won't be significant. 

One thing I've learned over my life, is that I can see different people do the same thing very differently, but learn from them all.  

IF not, what are the differences?

Jay, EVERY REIs circumstances are different.

Yeah, with the big push to dscr the rate differential isn't as bad, but its still there and so is the difference in terms.Also, people don't know how to operate the LLC. 

I wonder if the financing for LTR (30+days) is different from the traditional airBNB model.

JohnHey John,           Thank you, I have a few different scenario possibilities.

First time poster here and new investor, appreciating any advice in this new and scary world.My project, a conversion of a single family unit to a multi-family unit, is delayed by about 5 months. 2 months of the delay is due to my mortgage company.My original mortgage company transferred the mortgage to a different mortgage company early on, and did not give me the required 15/30 day notice.