Hey Kevin,I am an MTR investor and co-host in North Dallas, Texas.I have not done rent by the room--- but make sure you seek out advice from the rent by the room forums.

Do I need to seek legal counsel?

I am seeking information regarding the Sheriffs auction in Cuyahoga county. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Paul involves attending meetups and joining REIAs, working with professionals like CPAs, lawyers, and agents.

Additionally, maintaining well-organized financial records demonstrates professionalism and builds trust with potential buyers.

Challenges with finding people who want to do a smaller projects and not cost exorbitant amount of money Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

They do put up a lot of red flags, but in talking with them they have at least put up a very professional facade.I wanted to broaden the question, and ask if what they are promising is even reasonable. 

I just have vacant home insurance along with regular home insurance, but no other professional liability insurance.

If the borrower is seeking a construction loan, I would say loan administration is of utmost importance.