Encourage him to build credit to 680/700+, get 20% down, and have 9-12 months reserves and then he can get a No Income loan from one two different lenders. 

So I would buy the home and rent it for a couple of days, and then show the payment receive if you end up not being ready to launch and generate other bookings before the application window opens and closes.I'll direct message you my phone number.

One of the major driving factors for increased premiums is the carrier's requirement for higher replacement cost limits on file for buildings. 

Build your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 41.

I figured I would use HM for the purchase and DADU build.

Anyone have any experience with placing a flat billboard on the side of a building in Philadelphia? 

There are reputable companies out there, however, but I would shy away from any company that mentions turn-key.Long story short, real estate is very forgiving over time and these properties cash flow well and I was able to build a great team for future deals. 

Are you set on starting with a larger property, or would you be open to beginning with something smaller to build experience?

Hello Mike, It is nearly impossible to answer this question without taking a deep dive on the numbers of each but often times in expensive markets like Seattle the cost of construction is so high that it doesn't make sense to tear it down unless you can build something way bigger/nicer.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.