As an individual with an FHA loanI appreciate any additional guidance you all have for me.Thanks! 

As far as permits and renovations and ADU additions?

Thorough vetting is absolutely essential in private lending to mitigate risks and protect your investment.Here are a few additional tips to enhance your due diligence process-Assess Their Exit Strategy: Whether it’s a flip, rental refi, or sale, make sure their exit strategy is realistic and aligns with market conditions.

@Kevin Sobilo, do you happen to have additional information regarding the changes to the rules regarding how basements are appraised?  

That said, if you can comfortably handle the additional down payment and monthly payment consequences of a higher purchase price (and the lenders agree), and you have a few different good options with the property then it could be a wise investment.By a few good options . . . you want to have some exit strategy other than STR that will work in case the something happens to make STR uncouth in your area. 

Lower prices usually mean less attention to details, slower communication and most importantly additional fees.

Additionally, since you need to replace your vehicle soon, you should consider how that $30k purchase fits into your overall budget.Take a close look at the current housing market in Orlando, where prices are around $400k for decent homes.

In addition to my full-time role as an engineering manager, I’m building my real estate business as a side hustle with plans to grow it further.My current focus is on assisting first-time homebuyers and investors, but I’m always eager to explore new strategies and opportunities.

An additional goal with the LLC is to hopefully write off some time and miles I put in on these properties as I self manage and repair.

Something else to consider is that once these properties are paid off, you could cross collateralize to purchase additional properties that fit your buy box so that you may not need to bring cash to the table for a down payment.