Be sure to review the legal documents, oral representations won't stand up in court.

They will also dictate the terms of the loan, how it's filed, qualifications, etc.However, if you mean PML as in your friends/family that have NO experience in real estate and just have money sitting around...then I would certainly to counsel you to lean on some type of mentor or other experienced investor in Houston on what to do. 

Any advice or lessons learned from more experienced wholesalers would be greatly appreciated.Thanks in advance for your help!

@Scott Suryan we've review REI Nation's processes and met Chris - if we ever did turnkey, we'd model it after their systems!

I’ve experienced success in the STR market here in St Pete myself but I’ve since transitioned my properties to long term rentals for convenience and time management sake.

Of course, always check recent reviews.. they tell you more than a flashy website.Size Matters: I’d avoid both extremes... massive firms managing thousands of units and one-person operations juggling too much.

So I would ask what you care the most about depending on the type of deals you do.I do think checking references and reviews is important as that's sometimes overlooked and some lenders are notorious for switch & baiting. 

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

I suspect the guests via their reviews will dictate what constitutes a bedroom.  

This will allow the team to develop and review project processes and management strategies to move forward with more challenging, yet rewarding, properties.I come from a very process-oriented background (Mechanical Engineering), and my goal is to learn and develop each step of the process, from start to finish, to continuously improve the team and ROI of each project.