They are all pretty the same this one cash flows the least amount but has some additional upside.   

There is a company names Hemlane that offers that "light PM" service that may be interesting for you instead of a full blow PM company that may cost 7-10% of revenues.

The number of DSCR (Debt Service Coverage Ratio) loans a lender will offer can vary depending on the lender, your financial situation, and the property cash flow.

You cannot deduct your rehab costs until the property is in service. 

So I called the service rep to ask if it was a legit person and if so, could they put me in touch.They said it was a legit person and they conference called them and they were legit.

OF COURSE the Contractor is going to say you need to tear it all out and rebuild the wall(s)  because that's the absolute easiest solution and adds additional work for him.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

Craig, I'd be happy to review your docs and deal for you and get you to a servicer.

He gave me the owner's number (Jeff) and I called him on the spot, hoping to be able to offer my services to help him find and sell more homes in the neighborhood.

As long as no “healthcare” services are provided (like medication or personal care), it’s not regulated by the Department of Health.