Conventional mortgages are designed for individuals to purchase homes, not for businesses.

.), Designing and Furnishing (amenities, design, theme, linens, etc), and operating (Insurance, Property management or self-management, Tech & Tools, Cleaners & handy people, etc)All of these could be covered depending on who you work with that can cover each topic. 

You'll need to compare apples to apples. 40k seems like a low number to design, furnish and amenitize a competitive short term rental projected to do $100k. 

ROBS designed to invest retirement funds into an active business.

Every county has different requirements, such as minimum square footage for rooms; maximum number of occupants, hallway sizes (If there will be residents in wheelchairs); and safety regulations which are usually different that owner-occupied homes (for example- Interior fire sprinkler systems).  2.

(Also, ask them who they use to design it.)

Interior - Recently redone black granite countertops in kitchen, but original cabinetry was simply painted white by previous owner with black accented handles.

As a lender who specializes in financing for real estate investors, I understand the unique needs of the BRRRR strategy and can offer tailored solutions to fit your goals.Here’s how I can support you:Flexible Financing Options: Various loan products designed specifically for investors like you, allowing for quick access to funds for purchases and renovations without the stringent requirements of traditional lenders.Experience with BRRRR: Having worked with many investors using the BRRRR method, I can guide you through the financing process, ensuring you understand the best strategies for maximizing your returns.Quick Turnaround: With a streamlined application process and quick approvals, you can move fast when you find the right property.Personalized Support: I’m committed to building strong relationships with my clients.

Plan is to wall it off and convert to a 4br/2ba,  update existing bath and kitchen, new floors,  interior and exterior  paint.

If you wanted the REP designation in the future, you can have your signficant other qualify and that would allow you to qualify (e.g. a stay at home wife) or you can take a consulting role resulting in the real estate being your full time gig.