@Francisco Pineiro To protect yourself when working with contractors:1.Start with a Clear Scope of Work (SOW): Ensure every detail of the project is outlined in writing, including materials, timelines, and deliverables.2.Use Milestone Payments: For a $40K rehab, consider this structure: 10% upfront, 30% at halfway completion, 30% at 75%, and the remaining 30% upon full completion.

There are companies that buy properties, renovate them, place a resident in the home, sell to an investor then property manage for the investor as well on the back end.

@Tom Chen is pretty much correct in explaining how it works and how your investment is protected.

The 70% LTV and 3% origination cost you mentioned are typical, but they can definitely vary depending on the lender and the specific deal.Regarding the LLC or Trust, you're right, it's a good idea to explore those options for asset protection and potential tax benefits.

In 2017 we started our journey with long-term buy-and-hold investment properties in the Memphis, TN area after selling a property that we were losing money on every month in NOVA that we purchased as a primary residence in Jan 2007 (talk about all-time bad timing) and then had to move with the Navy in 2009 (2nd all-time worst timing).

However if you are attempting to use rental income for your departing residence that's where it will be a little tricky... 

I own a house that I am living in with a VA loan and want to buy a different home and move into that as my primary residence and rent out my first home.

We are debating between selling our first primary residence or keeping it as a rental.

I have a self check-in listing on Peerspace. I've collect their photo ID, contact information, and I've been asking all guest to obtain COI from all confirmed bookings prior to their arrival. However, Peerspace has $1...

Love the idea of helping out a first time buyer, may run into trouble if she's not the primary resident, check w/ lender but I don't think that'll fly w/o more of a down payment.