Lau, generally if you are financing with a commercial lender- we lend for business purpose only and a rental property would fall under that category.

Find a good lender, get pre approved, make sure you practice running the #'s using the 100's of videos and guides from BP, find an investor friendly Realtor, and then start making offers on any property that meets your goal.

You also will need to have multiple lender relationships as you grow. 

Aloha @Keith Barham, yes its geared for Lenders and Agents, however,  it works well for Real Estate Investors too! 

During this renovation period would you, as the lender, want an Actual Cash Value or Full Repair Cost policy in place?

You and your legal, tax and financial advisors should review this transaction in greater detail, especially the PLRs, to ensure you understand the significant risks involved and are structuring the transaction as close as possible to the PLRs to mitigate some of the risks.

Better Business Bureau reviews, etc.).Can I set up a self-directed Solo 401k if I have full-time job?

wild. 8. if you dont want to close in an LLC, you can still close in your personal name. 9. there are lenders with competitive rates if long term rents are greater than 1.1 of debt on the property (PITIA). however, there are also lenders who will allow you to do 80% cash out refinances with DSCR if DSCR ratio is 1.0. there are lenders that allow you to buy real estate at 20% down EVEN IF DSCR ratio is only 0.8. which means the rents are less than the debt on the property.

I also hire one of the big national 20 CPA firms to review returns every 2-3 years. 

While they might not be the cheapest - no HM lender is "cheap" - they do a good job at what they do.