Hey James,I completely understand the concern, I would want to work with someone who understands the guidelines well, as they are extensive.

I've had an extensive history of renting to people who mostly are either out of the house or in their bedrooms, so I often felt like I was alone even in a 5 BR house with 4 roommates.

:) Happy to help, I have extensive experience there.

The client has to be able to develop an unlimited amount of homes during any fiscal period which apparently requires retaining a general contractor to 'supervise' the work or act a project manager.In case something still isnt clear, client does not have some sort of challenge with materials sourcing nor do I foresee an issue with sourcing for labor hence the 'relatinships' you reference does not particularly provide any value for this particular client in this specific instance.  

Her husband had a sudden death and she asked for a two week extension to pay the rent.

For instance an unpaid cell phone bill.

It's hard to answer outright without knowing a few more things about you - but I believe both VA and FHA require you to live in the properties which may become a problem if you need to do extensive repairs.

In all honesty, unless you or someone on your team has extensive knowledge and experience in credit, mortgage finance, secondary markets, and portfolio management, your company is probably better served by building a deep and meaningful partnership with a small local lender to handle this for you - or maybe even buy such a lender with infrastructure in place as a turnkey solution.

Now there are instances where I recommend long term over short term rentals, it just depends on your expectations as an investor.

So I’ve read I have to start an LLC in Pa because it’s where I reside, but I could create an LLC in a state, let’s use Wyoming for instance, that would be the owning entity of the LLC that I would create/own in PA to protect my privacy and my personal assets in case of a law suit.