They had friends in town and enjoyed entertaining.

It's pretty common to obtain 100% financing for both the purchase and rehab funds after you've been doing this for a while.Borrowing, of course, is a two-edged sword because your interest payments, especially for a hard money loan, can eat 1/4 to 1/3 of your profit.

, which is indicative of either the broker having  no idea of what an appraisal entails and how it relates to the subject property or the mortgage broker is so weak that he is afraid to educate the borrower as to the reality of obtaining commercial loans without appraisals.

Ty, do you see any issues with the fact the daughter is obtaining the loan as a Second Home but not using the loan for a second home?

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

It sounds like you might already be aware of this, but the only time you can put a rental property on a Schedule C is if you provide those "hotel-like hospitality services" that you mentioned, which means things like not just cleaning between guests, but daily cleanings during guest stays, and/or providing them with things like meals or entertainment during their stay. 

Now how can you qualify: -your employer can write a letter stating you are or transitioning to 100% remote worker, if this is allowed;-obtain a transfer letter with your current employer-you can get an offer letter with a new company, letter must be non-contingent, and a guaranteed salary.There are definitely multiple possibilities.

Not every customer service situation runs smoothly, or obtains the hoped for results.  

Two contributing factors are high construction costs and regulations that make obtaining a construction permit difficult.California already has a large housing shortage.

Another great prep strategy is to have the building pre qualified with a local or experienced lender for potential buyers to connect with and or they could entertain a full or portion seller carry back if they want to maintain some income.