I wasn't worried about going over budget as I have used this contractor like 20 times. 

Example, the tenant has a guest over and there is a leak that I was not made aware of.

In the end, I prefer the long-term rental route with a good tenant though and over time when I start traveling for extended periods again, I will likely shift them back to long-term.I personally, would not purchase a property for the sole purpose of being a vacation rental - it's just not part of my investment strategy though, I have met people who do quite well with that model. 

We can e-mail, post, or ask ANYTHING and Sean will spend as much time as needed explaining it.

It has been rented over 100 times.

I have sold a bit over 50 million of the northside 2-4 units so seen lots of day 1 analysis vs long term, they tend to not look great on paper in year 1 but rents ramp up each year and they run under 3% vacancy here so actually bring high returns over the long run.

They have too many rules that they put OVER the normal underwriting with most loan types.  

Appreciated your advise P.S-If you have good deals at 1% rule send it over . 

I work in Business Development for a Property Management company over Greater Houston only and am first contact for Owners/Investors looking for management...

Have you talked to your current HML about rolling over your current loan into a new loan based on the work/improvement already completed?