Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

When I discover I can't build a house on it, I usually move on to the next deal without thinking about an alternative use but I like your creativity and will start thinking about alternative uses!

A water line burst in the 3rd floor ceiling and by the time I discovered it there were beautiful waterfalls from the ceiling on each floor and severeal inches of water in the basement.

The challenge, as you’ve discovered, is that traditional HELOC lenders typically want the property titled in a personal name rather than an LLC.

I assume documentation was a top priority here when discovering the property's conditions.

It may create a problem for you later if your bank discovers the account is owned by an LLC that no longer exists.

Basically, they suggest to buy a property with very little money, collect the cashflow, then refinance to pull money out of the property, buy more real estate for more cash flow and quit the W2 they hate.The first flaw is that a lot of the books written before 2020 will tell you to analyze more deals until you find one that cashflows.

The property had a first mortgage, as well as a second mortgage, both from the same purchase money lender.After receiving the trustee’s deed and recording it, I discovered two “Independent Solar Energy Producer Contracts” recorded against the home.

Like me, you’ll quickly discover it’s not a walk in the park.

Therefore, remote investing is your only option if you do not live in a city that meets all these requirements.Regarding your concern about not being able to visit the city: You likely won't discover much more during a week-long visit than what you can learn from the internet in a few hours.