Just be aware of your state's laws, as they can differ on how much you can bill back to tenants.

Key to your approach, as you seem to already understand, is that it requires elevated levels of planning and due diligence, but with this approach, it can be a profitable strategy.As you are in the process of narrowing down locations, start engaging with local experts to best understand market dynamics and compliance requirements with local laws.  

However, the statute provides for exceptions that are important for CA landlord’s to understand.First, the statute expressly states that the one month limitation does not apply to rental agreements entered into before July 1, 2024, so if you have an existing security deposit of two or three times the monthly rent, you do not have to reduce that security deposits to comply with the new law.

@Parker FairfieldAlso be careful with financing in Vermont - it’s got some crazy laws even when seller financingDefinitely talk to an attorney prior to striking the deal.

Before taking any action, it's crucial to consult with a local real estate attorney who is familiar with NE landlord-tenant laws.

Going the DSCR route will also not work since he will be subject to a PPP at the time of refinancing into a primary loan.Putting a tenant there for a year and then anticipating to move in after a year may not also work out depending on the states Laws regarding this. 

 The law on restrictive covenants is very state-specific and developed through case law over time.

Laws and deadlines are very specific and missing something will end up costing your time and money.

I've been doing land and cabins and I partnered with ex brother in law to get our gc license last year.

Here’s a 10-step process to get started with out-of-state real estate investing:Research and Select a Market:Identify markets with strong economic fundamentals, job growth, population growth, and potential for real estate appreciation.Consider factors like rental demand, vacancy rates, and local landlord-tenant laws.