Completing AP requires the other party to file a suit in court during which the judge determines that the case has merits, and ultimately transfers the property to the filer.

typically no special license is needed when doing it for hard money loans that I am aware of. there may be states like california and nevada that are tricky where lenders need a license of some sort but for most part brokers i have seen are not licensed. 14 or 15 states require state license and NMLS registration.

I don't know if this is required in your locality but if it isn't get rid of it.

Be sure to do your due diligence and make sure the PMC is licensed (if required, it's not in all states) and insured.

Thank you Each state’s laws vary, but many/most will require a foreign corporate entity to register in that state before it can do business, and holding property title is a business.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

@Helena Goyvaerts rate for a 30-year fix would be at least 8.5% with some points (1% of loan amount).Most DSR lenders have a minimum credit score requirement from the applicant.

This way they can't claim ignorance.I would also require a move out inspection and make it the day after they are supposed to be moved out. 

Florida's treatment of security deposits varies from many states in that it is required that a security deposit be kept in its own account in a Florida bank.

If you allow pets, your lease should require proof of licensing, regardless of breed.If the owner lets them run, with ensuing "incidents," I guarantee that violates city statutes.I (personally) would advise getting rid of the tenant.