I'm signing up now.

It will also be difficult to find a licensed contractor who will feel comfortable signing off on the work if they didn't do the work themselves. 

I’ve prequalified for a mortgage as long as I have a signed lease saying I’m renting my current house. 

That means you own your primary home with your spouse - EVEN IF YOU DIDN'T SIGN ON IT.  

Once we take over the property, we were thinking of signing a 3 month lease with an increase in rent (still not market rent) and after 3 months will increase to market rent and have them make a decision if they would be willing to stay or not. 

We also had to get a lease signed on our old home before we closed on the house, but we had everything set up and ready to list as soon as we got under contract.

Alternatively they completed one unicorn deal in their life and then turn that into a course while failing to tell those who sign up the  years and years  it took to run down the one seller willing to agree to their loopy terms.

You're signing up for an absolute meat grinder of a job with the hope that you can someday stabilize it and build something that could be put on cruise control or sold.As for tactical advice, tap into your network and alumni network.

The advertisement of the property costs a few dollars but you can use the platform the run credit reports and get applications as well as upload your lease and sign electronically etc.  

When you close on a mortgage you are signing a 1 year occupancy clause, meaning that you will use the property as intended for the 1st 12 months of ownership.