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Old 11-13-2008, 08:24 PM   #9
ApS
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Default Solvency while in extremis...

Quote:
Originally Posted by wMw View Post
"...Moving out and finding a small winter rental might be a good option for me if I could find the right tenant..."
"The right tenant" IS the problem. Your renters might eventually face the same situation you've got! (Though I think renting your place out is the best solution). Even with a wall, there can be excruciating times due to noise, drunkeness, "roommates"—well, just call it "incompatibility issues".

Assuming you're single?

A savvy sailor-friend who got divorced lived aboard a moored boat while his ex had the house.

He got to enjoy life at the mooring, even rowing out to the sailboat in the wind and rain for two years. Cooking was by alcohol stove, just like being at sea. Except for getting struck by jumping fish, the best part was being in the middle of Mother Nature's wonders. The worst problem was condensation that formed inside the hull when it got cold: moving to the marina's dock (and a small space heater) solved that for two Connecticut winters.

In the South, old cruisers are sometimes stored in rural back yards and wired and plumbed as rentals.

In that line of thought—and because US financial conditions could become extreme in the coming year—you might consider an inexpensive on-site camper for yourself and rent out the entire house to a family. Any on-site issues with the town might be overlooked due to difficulties faced by other residents experiencing even worse hardships.

A motor camper would allow you to stay overnights at/near your place of employment on occasions best for you, rather than the long commute north to Jefferson.

For the past ten years—after a few deadbeat renters—I started advertising rentals while demanding a full-year of rent in advance. (Reducing the rent as an incentive).

I got a couple of surprise tenants, including a 2-year lease with someone's "kept woman"!
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