***Update Here***Should I keep Or Sale Gut Flip in B- area.If I sale my new flip best I’ll get is 30k after 9 months.If I keep as a Long term rental I’ll have to convert the garage into a 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.

Its closer than 2 hours but traffic pending can be a real haul heading up that highway 400 with cottage traffic.  

The first would get the property free and clear if they were to be the high bidder (bid the payoff) at the auction and they would assume the property with any priority liens but any subordinate liens are wipedTo me best way explain it was Friday’s in elementary school when everyone wanted cheese sandwiches.

The current economic and regulatory situation is causing many existing businesses to take a wait and see attitude even when they are turning a profit.I suspect if jobs are created soon you will see more and more cottage industries develop.

No one in their right mind would try to manage a portfolio of them with out a property management company (more expenses), weekly turn overs and such would be a real pain.Peak season rents where I was at was 1500-2500/week and I saw a FSBO for 540,000, which I figured was probably on the 1500 end of the scale.On the other hand I saw a small cottage listed for $700k and the headline of the listing was BRING YOUR BULLDOZER.

Many investors do great putting a "tiny home" or cottage on their property and renting it on Airbnb.

They also condemned the cottage because of a previous tenants damage.He is retired so has the time to stay on top of things, including the continual vacancies, but he can't wait to unload the 'rats nest', (his words).good luck

After looking at over 100 duplexes I finally found two detached cottages that made sense.. 

I smell cheese, and where there's cheese, there's a rat...

It's time to find new cheese, which brought me to a new venture in real estate investing.