Thanks Matt If it is legal, analyze your area to estimate the income to see if it makes sense for you.  

It can be completed on a family member's property without major legal hurdles and allows temporary living.

In addition to finding good software program that meets your needs, I encourage you to get your "legal ducks in a row": e.g. landlord forms library, educational resources, lease agreement and addenda, and operations practice and procedures and policy manual.

The above varies based on the lender as large investment property lenders decide on their own guidelines that are often similar but not identical. 

I am wondering if we have the grounds to pursue any legal recourse if the PM company refuses to take accountability for the existing property damage (dead grass) and potential threat of an unsecured property.Your advice/opinion is greatly appreciated.

Analyzing market trends, evaluating properties, building a team, staying updated on legal considerations, and using technology can help manage leases and payments.Good luck!

There are no hard guidelines since it is non-QM so every lender will have different options.

Home equity loans may not be obtained on land that is taxed as “open space” or as agricultural land.The loan may not close until twelve (12) days after the borrower has applied for the loan and has received a formal notice of the borrower’s legal rights.Not less than one day before the closing, the borrower must be given a final itemized disclosure of the actual charges associated with the loan, including actual points, fees, costs and interest.

They also had recommendations for insurance providers, and referral for a legal team to assist in setting up my LLC, which I am currently working on.

If you are married and you aren't on title....you legally own that home.