Let me quote the second paragraph: When Congress and the president fail to agree on and pass one or more of the regular appropriations bills, a continuing resolution can be passed instead.

Lesson: Keep a nice house and inspect before the inspector.Inspections then occur annually and you don't get paid if your property fails until you pass again. 

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

And here we are, reaping it's failing yet again....

Using a HELOC for your first flip can be cost-effective due to lower interest rates, but it risks your primary residence if the project fails.

If he fails to pay the rent which is not a legal remedy, send him a Notice of Quit for Nonpayment advising that if not immediately cured, eviction proceedings will proceed.  

Second biggest mistake is failing to realize these construction loans allow draws on improvements meaning cash expenditures are required before the first draw can be issued.

Pointing it out because experienced folks have fails.

I have been charged twice for the same repair, had repairs done that I did not authorize, had them fail to actually do repairs I did authorize in a timely manner and then blame me for it, had people just forget to respond to me, all kinds of problems.

As others have said you WILL fail.