Do you pay the 2pts and 9% ARV (plus add. loan fees, taxes, etc) and net less actual dollars, or float the deal cash and make more $$$? 

One idea I have floating around my mind is to buy a couple of vacation homes in warm places that aren't Minnesota (where I am from), to satisfy a few things, one, provide passive income, two, add an additional asset to my portfolio, and three, provide a home that my family and I may enjoy as well. 

We have floated the idea of "Aging in Community" as co-owners of a great large format home. 

My payment was less because I assumed a 12.5% floating LIBOR loan I never really understood but was glad to have it. 

With single family you have to float the whole note until you find a new tenant.

Not sure what people think, that the drifts are gonna be so high they won't be able to open the door?

That will be a short term loss and we are willing to float the note with our other long term rentals until this blows over in hopes the AIRBNB strategy will make up the difference in the future. 

Even if it was locked, some companies have what is called a rate float down option.

Just need start up cash for DP and to float the mortgage until a tenant is placed.

I'm thinking of letting it float as rates may drop back down.