The new owners will have need to start the process of becoming administrators as fast as possible.There are requirements set forth by the state dictated by the amount of beds, 6 beds and under is fairly simple and straightforward.

It's required now with the new regulations.

@Sean Regan We provide a breakdown on scoping based on "required" vs "recommended".

Hi Julia,Rehabbing fire-damaged properties can be a profitable venture, but it requires careful planning and additional considerations.

You can do a 1.0 DSCR but all that means is you do not have a good cash flow asset and you are just holding for appreciation only.The refinance portion will require another appraisal. 

Quote from @Justin Brin: I created a heat map showing the population changes in each state over the past five years (2020–2024).The states experiencing the largest population increases are Florida, Texas, Utah, Arizona, and South Carolina.

A conventional renovation loans will allow you to use preferred contractors, requirements are they must be simply licensed and insured.  

Under the old system, flood zones primarily determined whether a property owner was required to carry flood insurance and significantly influenced the insurance rates.

What are you accounting for when you say out of state investing requires more capital? 

Just be aware that there is an experience requirement for these, as well as reserves requirement (6 months PITI).