. $7k sounds more reasonable but I think setting 5 to 10 years for you and your sister to reach Financial Independence and quit W2 job (assuming you also have W2 job unless you own a business or are a real estate agent) is really challenging.

Then progress to permits and then building.You could also just do it and hope the city doesn't notice, which they probably won't.Your challenge will be getting Certificates of Compliance on the units!

Have any of you faced challenges with getting your properties valued correctly for rent under the Section 8 program?

They need to handle their issues at home.

In response to your original question, closing agents should handle private loans just like a bank loan. 

Challenges?

Happy to be challenged on them if anyone disagrees by the way!

Sure, the premium they add (20-30%) is something to consider, but you’re paying for the convenience of having everything handled.

They wrote me Commercial policies with high limits....only $100 mo roughly, never had a problem.I would just ask the company that handles your current home's insurance....some will do STR insurance, some won't.

He is an investor, investor focused realtor, STR property manager and handles everything from Step A-Z.