Id keep looking if it was not an approved short sale ( even an approved short sale takes a very very long time and theres no guarantee that you will even close on the house after months of waiting). q1)There are plenty of non traditional lenders that could offer you construction financing if the numbers make sense but it will cost you with points and a higher rate.

The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

You're running a business...the tenant does not 'inform' you when they will be paying their rent...they are contractually liable for paying at specific amount on a specific day. 

kudos to you for being so responsive to constructive feedback.i'm happy to answer any questions you have. 

A report from Apartments.com shows that 178,000 newly constructed units entered the market in Q3, bringing the projected year-end total to 636,000 units.

I believe making statements about me based on assumptions does not contribute to a constructive dialogue.

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

I don't do app development but I was told for most sites and businesses it's a lot of work for low payback.

Hey everyone,I'm looking to get started in the short-term rental business and could really use some advice.

I would like to learn the business.