I'm wondering if being a little closer to the larger cities in and around the upper peninsula would be better.

It's easy to pass them all by and find one with amazing ocean views and bad decor, or better yet a STR with modern decor and close to the ocean.

Which means much better terms.

The one the plumber sells will cost him less than that, and he may try to talk it up as better than the "big box" ones, but it's probably about the same.Add maybe $50 to that for parts - like a new temperature/pressure relief valve if the new one doesn't come with one, maybe new flexible water lines if it's not plumbed in directly, maybe a new shutoff valve. 

You would do much better yourself to personally manage or find a local management company.

Quote from @Blake Choisnet: Top markets I'm seeing for remote BRRRR right now are:- Dayton OH- Birmingham AL- Macon GAAll have a market rent-to-price ratio well above 1.0% which will give you a better shot at cashflow. 

For example, if you’re looking to generate a lot of passive income (relatively) quickly, flipping houses may be a better option than REITs, which offer more stable returns over time.SummaryBuilding passive income streams as a real estate investor can be a great way to create long-term wealth.

You can also 1031 exchange all of your properties into a single, class A asset that cash flows same or better but is newer and nice so you have less risk.

A lender isn't going to let go of the original guarantor unless the replacement guarantor puts the lender in a better position.

At the same time, I am better prepared for the next one, learned alot, and have good contacts now