So the places we all encounter that don't even have a wheelchair ramp at the entrance (at the appropriate incline, etc), even though it would be relatively easy to put in, aren't compliant (envision a storefront set back 10 feet from the sidewalk).

I've had qualified renters move into a rental, add their bum friends or family members, and then disappear, leaving me with bad renters who weren't approved and aren't on the lease.The best practice is to screen every adult, approve them, and add them to the lease. 

There aren't too many other cabins like it in the area on Airbnb to compare it to.

Hey @Dalton Foote - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

@John Keane A few comments:-If you aren't able to raise the funds from your closest friends and family it is unrealistic to believe you will be able to raise the money from anyone more distant to you.

- The inspectors aren't stupid and will see that everything is brand new and then research for permits.Also can't think how you can make this profitable.

Refrigerators aren’t typically expected in Texas single-family rentals, and it may be the same in Georgia.For other appliances, buying new is usually the better choice.

New realtors, new realty companies, new PMs aren't going to have those established relationships and *no* PMs give up the names of their people to anyone else because getting good people is difficult. 

We're looking to transfer this into an LLC for liability purposes.From what I can tell, the best way to do this is to retitle the property, pay Chicago's expensive retitling tax, and set up an operating agreement, all of which likely requires a real estate lawyer (what $ base do we use on the tax, given we aren't selling it to ourselves, just transferring it?). 

Another one to consider is the FHA 203(b) if the repairs aren’t too major and you’re okay handling some out-of-pocket fixes.