This also gives the client some peace of mind because they know there is a 'worst case scenario'.

Your scenario might be different but we are 8 hrs away and would only get down there 4 times a year.We used the resort management company so we did not manage the renters but it was enough work with a management company that I cannot imagine how much work it would be to do it on your own.Good luck with your decision and feel free to contact me if I can answer any more questions.

I.E, they have no tenants rights because they are not on the lease, be wary though there are some common laws regarding squatters.

There are local banks that may be able to do a cross collateral loan which is one larger loan that liens all your rentals together.However very specific advice on your scenario can vary depending on your unique scenario, financial statement, credit, and etc

I've just about ran the numbers and scenarios to death and at this point need some outside advice!

That is a great set of scenarios and ideally a rehab to buy and hold is the goal.

Both are common for auto facilities.

Regarding the owner finance; is it common to not allow prepayment?

@Mark Ferguson , I know that the energy that is created when people join together with a common goal is very invigorating!

I did some research and sure enough the bank had foreclosed on the house several years ago but kept it until now as a rental.Is it common that banks will hold forecloses as rentals?