I would be surprised if borrowers could meet the experience criteria, its terms that are real and available but reserved for elite rehabbers with a lot of completed projects.Typically, 15% - 35% of the purchase price (or total project cost depending on the lender) will have to be brought to the table by investor in order to close.Once the loan is closed it works like a construction loan.

If you have some money to bring to the table , see if you can get into a  Joint Venture for the first few flips and keep it small like light rehab etc  ..

The majority of existing houses were built in the 1930s, contributing to the unique character of the neighborhood.

.- If someone sues the tenant for monetary damages for some other reason, and they haven't done anything illegal, their Renters Insurance puts Insurance carrier money on the table and the landlord doesn't need to be involved.- The tenant's personal property is protected (less the deductible) while they are away from home, like in their car, or when traveling.

the more you could make it an emotional (unique niche place that stands out) decision and find a buyer attracted to that vs pure math, the better, I suppose.I'm thinking 'the right location' (and buyer) for this scheme is more like the "hobby second home" crowd, dedicated ski/vacation town, right on the beach, cabins, main amazing attraction right nearby, NOT any-old air bnb beachtown condo, though, overall.

Maybe 5% look different or have something unique or different.  

Firstly let's just get a few things on the table.1.

Conclusion:Please don't base your opinion of the typical transaction on this unique situation.

Keep cash on hand and don't put yourself in a position where if your tenant needs a new roof or AC unit right now that you'll have to put it on a high interest credit card.Second, I realize that everybody's experiences are different and so is everybody's unique skill set. 

Also make sure you have a unique value experience for your guests.