Best to prepare before doing so, so that you can meet with (or terminate) your existing PM, view your rehab, and meet with the new PM(s) and contractor(s) before finalizing things and heading back out. 

At what point in the journey of finalizing your market, and offering a deal would you begin to engage an attorney?

I have one duplex and have been house hacking since I bought it, it's been 5 years plus I have this property and finally ready for a 2nd one, looking to see if I get another multi or a single family, any thoughts Side note I also need a bigger place since I have another child who now needs their own room.

So far, so good and I am excited to finally get started in Real Estate investing. 

On a final note, please verify that there is a demand for this unique investment approach in your market.

My real intention on using STR’s is really just because of the tax advantages that can be carried over to my active/earned income when I am finally settled down at an Airline in the future (currently in civilian flight school). 

After a 90 days (which is typical for assumable loans) I finally closed on the house.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

If it says they don’t have to provide anything then that’s the agreementTypically agreements require at a minimum annual updatesThe good ones do monthly or quarterly depending on offering type So an update was provided - finally- but it still excluded crucial information the investors should have been updated about (in my opinion) considering there was a significant change made in the project that they are unaware of.

My goal here is to finally get into real estate investing and hopefully get my first property here soon.