I have focused my research on house hacking due to the lower upfront capital requirements with an FHA loan.

With Chicago's new Express Permit Program, it's a bit easier to get permits for work that would have previously required architectural drawings. 

again, not sure if we're talking about the same thing or not. i assumed you meant using the low interest loan for the down payment, and a DSCR loan for the balance. 

This method is a little riskier and requires more work from the Property Manager. 

I like Clarksville, TN because of the strong fundamentals, minimal volatility, and balance of cash flow and appreciation opportunities. 

I think a HELOC requires a certain LTV before you can pull any equity and 1 year most likely won't be long enough for any real equity to build.I would say.

You should require the tenant to carry $100,000 liability.

Most new construction deals require you to give up to a 10-year warranty on some items while most fix and flips come with very little extended liability after the sale excluding gross negligence which is not stopped by an LLC in any case.

The notes, being in default had an unpaid balance of $3.2million.  

I do require full screening for the incoming tenant, and updated income screening for the full group of tenants.