If that's the case, you'll want to start with a fix and flip (or hold) type of loan, complete your renovations, get it rented out and THEN refinance into a DSCR loan for a long term hold. 

They close hundreds of loans a month and charge you for any hold up on their end.

Also, if you form an LLC to hold the property, you will need a designated agent(attorney) in that state. 

Quote from @Account Closed: Honestly have no clue, but my guess would be contact a lawyer who specializes in real estate.I am also trying to get a hold of other wholesalers in my area and real estate agents.

So I would continue to hold the property - but I would be sure not to miss the ability to exempt the gain - so be sure to sell within 5 years.  

Investment Info:Small multi-family (2-4 units) buy & hold investment.

The cash flow would be nice, but are you planning to hold for a long term or refinance before the balloon or sell?

If you're working with an investment brokerage, I'd recommend tapping into Tampa and Central Florida markets too—areas like Riverview, Wesley Chapel, and Brandon have been strong for both flips and long-term holds with steady demand.

Properties typically on a land lease in communities like this are more difficult to get financing on - so not only check the values but also time it takes for these properties to sell to understand your holding costs

Both are drawing more and more tourism, as well as relocations, and are holding more and more special events and competitions.