Freddie SBL offers 5-10 year fixed rate options, as well as 10-20 year "hybrid ARM" options which start with an initial 5-10 year fixed rate period, followed by a 5-10 year floating rate period.

Have a well laid Exit path in the Operating agreement. 11.  

Don't apologize, don't explain how the 'chosen' tenant was more qualified than they were, wish them well in their search.You're running a business and you've made a business decision. 

Quote from @Duane Richards: @Sundone Boutvyseth I also did a 10% on STR in Florida last year, it's worked out really well, but went through a national lender.

Obtain the necessary insurance as well to guard against any hazards or damages that may arise throughout the renovation process.6.

So if you are using that site or something similar you could very well over pay for the home.

I am a licensed agent in Kansas and Missouri as well as looking for my first investment.

Well, a large number of our members are rental home/apartment investors but there's plenty of other RE opportunities out there. 

You may not enjoy as large a return but if you choose well, you can still enjoy a decent profit.I would also take a look at DST opportunities which are available to smaller investors.

looking to arbitrage a deal with a home owner I know, This might help the previous question above as well.