I live in the Nashville area so if anyone knows of a meet up let me know. 

The repair was extensive and costly, requiring excavation (about 3x6 feet) to replace the broken section and clean up the mess.

I'm rooting for this to be wrapped up!  

The interior was made up of high efficiency HVAC systems, contemporary lighting, and electric water heaters.

If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

Then once you've fixed the property up and at least have it listed for rent you could refinance into a DSCR loan.

It's up to their tax professional on how to present that info on their tax returns.

Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

I am on the Neighborhood Building Owner's Alliance weekly calls, and we had this ADU issue come up.

You do not need to set up an entity in a different state to wholesale.