but it was pretty comical for a while.Also with Intels issues its going to be a long haul for the Columbus facility to get going I would not be speculating on that market and thinking Intel is going to be a major driver in the next few years..  

There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself. 

@Laurel Williamson There are no major tax implications and any interest payments can be deducted by the LLC.

I’d like to put a primary mortgage on it during renovation (once livable) to get the 12 month rental clock rolling.I know that I must live in this house the “majority of the year”.

I believe what we will do is use an ultra efficient ducted heat pump system with dual fuel capabilities, so that it will use the heat pump a majority of the time and switch over to using the gas furnace for when it can't keep up.If you have some trusted HVAC subcontractors I would love their contact info.

Emergency Fund (5-10% of Income)Rule of Thumb: Set aside 5-10% of your income for an emergency fund.Why: This fund should cover unforeseen expenses like major repairs or vacancies.

Please note, units have to be registered (then renewal annually) with the Department of Planning and Permitting in order to be operated as legal vacation rentals.  

*New Lego Discovery Center, First in the D.C. area*Certain retailers are also finding having a brick-and-mortar to be useful, especially in major destination points like Springfield Mall.

(painter, electrician and plumber are all a given but they are focused and supplemental to the more major rough and finish work) Hourly rate range?

I protect my interest with a minority equity position in the entity that holds the property and a clause in the operating agreement that gives me majority ownership in case of a default.