@Alex Appolonia I'm sure there are others here who have more detailed information on this, but in case no one responds, I can say this is an evolving area and your best bet is to contact the Narragansett and South Kingstown building officials.I know that in Narragansett regular rentals require an application/permit and it seems that short-term rentals do too but I can't seem to find the form for that on the town site and it may still be in-progress so I would recommend calling them.

I bet 95% of stock investors would take a guaranteed 10% return over the next 5 years.If the fed ever decides there’s inflation and starts raising rents the stock market could easily be even, maybe give or take 5-10% over the next 5 years combined.

Anywhere closer to eastern, or even out in Mansfield in between eastern and uconn will be your better bet.

I hope you're (we're) wrong, but my money is certainly betting against that. 

A better bet though would be buying in a gentrifying area such as West Town, Irving Park or Albany Park which may have stronger upside, you also can get a bit higher cashflow in these areas on condos.

Is a deal typically not worth doing if you can't get an appraisal / refinancing goal to completely pay back your out of pocket cash and initial loan?

Im not going to beat myself up about it, I give myself credit for at least  taking the leap.these are the numbers19k for initial purchase10k on new roof and patiosmaybe 6k inside with laborarv 65-70kim torn between holding or flipping...we are about 85% done I've owned about 6 months

Being more active here and in a few fb groups I've joined is pretty much my strategy to initiate those relationship. thanks again for response!

if your FIL  does not mind  I bet most folks on this site would advise you sell .. 1031 if you canand roll that up to a bigger income producing property. 

The personal money for the initial down payment is considered 'capital'.