Remember that regardless of your forecasts, **** goes wrong (project delays, theft, extra repairs needed, etc., and you need to be well-capitalized to absorb those shocks if you want to survive for the long haul.    

I've received permission from the applicants by them signing the applications allowing me to run their credit, however, I then realize that this isn't as easy as just going to CreditReport.com because there is an authentication part that makes sure the person isn't getting their identity stolen...

@Yasmine BisumberI'm in the same boat trying to expand to Florida and have almost identical questions about Florida as well as insight into GA from a long term resident's and now investor's perspective. 

The area is all boxy, mid-1980's roughly identical fourplexes.

The 2 loans may have identical terms with a portfolio lender, that doesn't make it a heloc in a purchase transaction. 

They can also say you are "uninsurable" if you have more than a certain number of claims at an address in a certain amount of time.My aunt has a rental right now that she is having a really bad time with because a former tenant filed a bunch of theft claims without letting her now.In Texas, "uninsurable" means expect to pay four time to going rate.

In either case, the entirety of the Scope of Work is identical whether contained in a single or multiple "contracts".

Aesthetically and at face value, this house looks nearly identical to the other renovations - same amenities in the kitchen, similar finish in all rooms, similar bathroom remodel, similar yard/landscaping, same lot size, all one story etc.

You would pay more for a property that had a credit tenant that had a long term lease for above market rents than you would for the identical property next door that has a long term lease at below market rents. 

The Ft Mill the larger one 5 bed 4 bath is about 1 week from Completion.