Once the municipal/state requirements are all set, do a thorough screening for any prospective tenants, have a solid lease ready to go, and take move-in pictures to have on record for any security deposit deductions after they move out.

We're also wondering if FEMA sets the price based on SF, furnishings, etc.

It can get really sticky, cause frustration and ruin a friendship if expectations aren't set up front.

I was told they take care of everything when setting up LLC.

I am new to the world of REI & a late comer.  I want to build wealth for me & my child and feel stuck.  I depleted my savings when I stupidly renovated a house on which I'm not the sole owner on title. I am cu...

Hopefully he finishes this rehab in February as I hope to have him set up an out of town, large (over 3000’) luxury STR in the spring.When he completes that effort, we will be concentrating on getting him a property in San Diego which as everyone knows is very expensive.  

I do not use Rent Ready, but I know that it is a perk of my pro membership here and I am considering setting it up to help my tenant establish credit. 

Setting that aside, I don't believe its realistic to buy a home and turn around and flip it without making any improvements.

(no waiting period to simply refi what is owed) DSCR programs are not purchased by Fannie/Freddie so they can set their own rules and some have a waiting period as short as 3 months. 

I'm actually interviewing PMs and CO Hosts this week, and Handyman for installation of all the furnishings set to show up at the property in January.