David welcome, my name is Harold I live in Kissimmee, FL just outside Orlando and have residence in Georgia.

My wife and I are about to buy a house in another state to be our primary residence.

Currently I am 8 years into a 30 year loan on my primary residence and am a joint tenant along with my grandmother on a paid off home in Vacaville.

Even if the residents aren't shooting up every day, neither will the property values ever.

I have flood insurance on my primary residence.

In the management agreement I signed with him, there is a clause that says if I terminate the PM without cause, I will "pay a sum equal to the commissions due for the remainder of the current resident's occupany".The current lease won't expire until next June.

One of the things that repeatedly comes up with potential JV (active) investors is the question of where the money resides while the project is happening.

As a lender, I may ask for personal guarantees (and corporate resolutions, etc.) from all members of an LLC, but that LLC as owner will not "occupy" the property as a residence.

That's usually a higher rate than the 15% long term rate, but it depends on your personal situation.That assumes you're not selling a personal residence and that you're not a dealer.

Pray for appreciation.There are a lot of investors who reside in high priced markets (CA, NYC...etc) who decide to buy in "cheap" markets like Memphis lured by the low prices and "cash flow".