If the property can qualify off LTR rents, I would advise going that route since you will have a favorable interest rate. 

It's advisable to work with a real estate attorney who is familiar with subject-to transactions to navigate any legal complexities.Risk and Liability: As the original borrower, you retain liability for the mortgage even after selling the property "subject to."

Give the construction details to your agent and they can advise if the amount of work falls under the standard policy or if they will need to endorse additional coverage onto it.

Never a good idea to tell someone who is advising on this forum that they have mis conceptions about goals.. they are trying to help and may have misconstrued your postAnyway your plan is solid and I think you will will get there alone or using a  Joint  Venture investor  for sure

But I never called anyone small minded, and I don't think less of any monetary goal vs another.    

Quote from @Kevin Sobilo: I would just warn that it's not advisable to connect two circuits to one breaker.

Hi Shrijan,Welcome to the forum.Personally, I'm not a fan of out of state BRRRR.On paper it all sounds good and great but I've been in the game long enough to have witnessed otherwise.I would always advise doing BRRRR in your own market if possible.There are too many links to a chain with this approach and if one link is faulty, you chain becomes useless.Otherwise, (Yes, I'm bias lol) an alternate solution is buying turnkey.Wishing you much success 

Your name would not go on anything, just need someone to review and advise on best course(s) of action.Also, not sure if there are nuances with California but experience with that state would be a plus as a noticed this: https://www.ftb.ca.gov/file/personal/reporting-like-kind-exc...Thx!

It just needed to be unique, highly desirable, generate cash flow for career freedom, create a legacy of memories and monetary liberation for my children and my children’s children.

They can review your specific situation, the lease agreement, and advise on the best course of action.