In response to your questions:Biggest q i still dont really understand is:- what happens if i refinance before 7yr term or sellAs you'll be the owner, you can refi or sell before the 7 years. 

And if a property is owner occupied, how can you secure a loan with a hard money lender not being able to view the home to estimate repairs?

@Ed Lopez what controls do you have over what they decide to do?

I have been following the Real Estate Investing industry for a while and just recently decided to put my focus into it and implement a plan I had in mind for years.So I went down to Puerto Vallarta I put together a team of local realtors, brokers, contractors, property managers and a lawyer. 

@Joe Norman Those were the big 3 I figured would help the most, but I think wasn't sure how much actual applicability they had as a business owner/investor.

@Matt PowersFrom my experience, deciding between short-term rentals (STRs) and long-term rentals (LTRs) depends on the market.

You can only target owners with paid off properties who don’t need the money right away.

Different areas have different metrics that decide how well they are doing.

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

Competition with owner-occupants and the age of the homes (70-120+) will squeeze your margins and expose you to a fair amount of risk.