My previous renters were relocations - either had sold their home and looking to buy another (low inventory so takes a while to find a home to buy) or moving here from another city and didn't know yet what neighborhood they want to be in, or alse building a home and need a place to live until it's completed.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

We estimate the project will take less than 3 months to complete.I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.Thank you in advance for your insights and assistance!

@Jessica Seppo,Many people take the cost of an LLC and funnel it towards more insurance and an umbrella policy.

With your background in real estate (STRs and assisted living), commercial MAY make more sense and then if there are any residential deals you can take them as well.

I am aware some people are using crypto as a way to evade taxes, but that is very unwise given the aggressive stance the IRS is taking on this.

Kyler, call your a couple of insurance companies and get a formal quote so you can take this back to the seller.  

My experience with S8: There is a reasonably strong correlation between S8 tenants and tenants that do not take care of a rental property. 

And many of my clients are taking on the BRRRR method. 

This takes time and knowledge.