Currently, the rate is super high, and rent-to-price is often lower than the mortgage rate, so in terms of capital cost vs. potential return from capital, it does not make sense to get a mortgage.

I high five this idea greatly and if either of you come across dividable lots in NE Florida...by all means put me on your buyers lists Cheryl Bolognese, Tim Bishop.

To help you in your search: be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

@Alicia Howard I know you mentioned that you eventually plan to talk to a CPA and a lawyer, but I highly recommend doing so sooner rather than later.

In Jackson Mississippi  South Jackson to be specific I have funded well over 500  props there and more than 10 I have funded 2 to 3 times over the last 20 years although I am not longer doing deals in South Jackson as I don't want to encourage out of state investors into those super high risk areas.

With my place in Florida I rent it at high season rates one time a year and let friends and family use it for just my utility and cleaning cost. 

Not to mention a high level of expertise.

MINE ARE:TIRED LANDLORD HIGH EQUITY, 20 YEAR OWNERSHIP, OWNER OCCUPIED COMMENT YOURS!

I tried one manager that was highly rated (according to her reviews), and who seemed to have it together when I interviewed her.

This means hosts have to work extra hard to make their unit unique and stand out so that they can charge a high enough nightly rate and remain occupied enough for the property to cash flow well.