High rates are here for at least the medium-term (1-2 years), so deals will have to pencil in this current environment.You may also want to consider hard money for your lending, as they can often fund your construction with far fewer restrictions than a HomeStyle loan.

All of the furniture was purchased last year and looks great.There is a restriction of the exterior needs to stay as it looks for a historical location.

Hard money lenders are much more like banks and come with many restrictions, requirements, due diligence, fees, etc.

With market conditions as they are I don't want to be too restrictive.  

I thought about the lock but I think that it will be illegal to lock/ restrict her access to the thermostat since she's the one paying for the gas bill.

This is true, but can increase your chances of success by working with an experienced team.Financing Challenges: Unexpected rate hikes or tightening lending restrictions can complicate your plans. 

Other than that, the NMLS specifies no restrictions on the matter. not sure its NMLS who actually regulates it NMLS is just licensing registration I think its still the states that regulate..thats why you need  a MLO in a certain state then register with NMLS if you have a MLO..

I would also caution if you are intending on a vacation rental be very cautious of the individual town restrictions.

Questions Regarding Property Registration Restrictions in a Joint Venture Model:Are there any restrictions when attempting to change the property registration with the county (through the title company) if the property has an active Hard Money Loan or DSCR Loan?

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.