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

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.

As far as permits and renovations and ADU additions?

They completed the review of the voucher on December 3rd AND REFUSED TO COVER THE TENANT'S RENT FOR NOVEMBER because they didn't have LMHA permission to move in.We had a home pass inspection on December 20th and still haven't received permission for the tenant to move in (January 3rd)...the tenant just had to pay for an additional month's rent at their old home and we are out another month without our rental occupied, incurring carrying costs, and risking vandalism.

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. 

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.

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

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

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.

If you use a DSCR rental loan it could be as low as 3-6 months of time seasoning required so it depends on what product you're using to accomplish the mission/goal.The time frame isnt a legal requirement, its a financing product specific requirement as a guideline to obtaining the money in which you seek.If you had other scenario related questions feel free to mention them below or via DM.