I am concerned about theft during and after renovation so a policy that can cover that would be of utmost importance. 

Lots of money to attorneys, lots of time lost and you still have a house that needs fixing.One word of caution, be careful of who you take advise from concerning the HVAC and drainage issues.

Some concerns I have been thinking about:1.

Concerns & Risk Mitigation:- What are the biggest risks you look for?

One of my friends is also thinking about that but what I am concerning is how about the vacancy rate for the STR and MTR? 

My biggest concern other than the closing costs was that if an FHA buyer tried to come buy it my understanding is they would need to wait 90 days from when I bought it and I think it would only take about a month to fix it up.

In fact I think truancy is a real concern. 3% of rent which if it was $2000/month or $24k/year, a fee of $60 or $600 would not be a premium, rather a deep discount from the STR fees or PM fees I hear coming from Bullhead City, AZ or LA, where they range anywhere from 10% on up.April did you use Nomad after all? 

He recently emailed me that he was done discussing an issue that concerned me, and he didn't want to answer any further questions. 

I think my interest is in being my own boss immediately but I’m concerned about not generating enough capital soon enough to really get this going. 

If one buyer doesn’t want to pay what it’s worth, someone else will.Know your market: If the market truly shifts and a buyer’s concerns are valid, it’s reasonable to adjust.