I am not familiar with Horn Lake and the economic conditions you mentioned as a CON, but if you already have those concerns, on top of a large rehab, which typically don't shrink as you get started, and being OOS and needing a PM team, you may want to consider other options as you get started. 

@Mike Sferacorrect. one small tweak, if you're buying fixer, you wouldn't typically buy with a 'mortgage.' you'd use cash or a hard money loan. 

Unfortunately, if you ask more than one question, they only answer one, and it's typically not an answer to any of the questions you asked. 

He started with me just after retirement and I recommend you look for a handyman who is retired because they are typically less expensive and as my guy likes to say, every day is a Saturday and that means they can get repairs done quickly.

@Carter MayberryRefinancing your FHA loan into a commercial loan and transferring the property to your LLC is a solid strategy, but here are a few points to keep in mind:FHA typically requires a one-year ownership seasoning period before refinancing is permitted.

In Tampa I meet Tow Truck drivers that make $3,000 a Week...what did you do?

Seasoned investors using commercial DSCR loans for the refi are typically completing full BRRR's in 3-6 months.

They typically pay more also, just screen well.

Typically I set up a zoom call so I can show a map and where the good investment pockets are in AZ and why. 

- Commonly Allowed Pets: Which types of pets do landlords typically permit in rental properties?