Replatting and renovating could definitely add value, but working with someone who knows the local zoning and permitting processes will be key.

A lot of this process depends on your laws regarding STR and Mid term leases/occupancy?

Yes they were great to work with and all and all it was not a bad process. 

I don't plan to do any fundraising, but I'm finding the paperwork and process quite daunting.

Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.

What blew my mind through this process is how people calculate returns.

Well, once I started the process of buying I was quickly introduced to the importance of title insurance.

You should require the first month's rent paid in full before handing them the keys.Start the eviction process.

This starts with contracts but also extends to communicating expectations during the construction process.

Rather than that, if a loan is called because the property underwent a condo conversion (apartments into condos) or subdivision process without the lenders awareness/approval, would they still be required to offer a preforeclosure period before being able to foreclose, as is the case for lack of payment?