If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

If any of the proceeds touch the sellers hand the IRS sees it as taking profit and you will have to pay taxes on that portion.Net proceeds - Is the net sale, minus any Equity in home being sold.I find a lot of investors who want to purchase less than their reinvestment requirements will do the calculation to see what their tax burden would be if they purchase less than they sell.

Traditional bank loans can be slow and have strict requirements, while hard money and private lending seem to offer more flexibility.For those who’ve secured funding before, what’s been your experience?

I'd say, if you can renegotiate the purchase price and get the knob and tube replaced I'd recommend it. 

Some, like ours, focus on offering optional services such as renters insurance or washer/dryer rentals without requiring tenants to opt into a full package.When choosing a property manager, I recommend asking about the structure and purpose of any fees.

2) The minimum hours required are 750 hrs, but if running a short term rental, 100 hrs is supposed to be adequate, is that still true ?

Quote from @Paul Gupta: Hi, in California, For jobs requiring a license, there was CSLB (contractor state licensing board) which would give either a General Contractor license, or specialty licenses by trade (~60 specialties such as concrete, welding tile, ) https://www.cslb.ca.gov/about_us/library/licensing_classific...My Q: does Maryland and DC area have similar requirements? 

We only require a soft credit check as well. 

@Michael PlaksI’m not sure if you’re just trying to be controversial, but it’s clear everyone agrees this requires careful planning with a qualified professional.

Don’t let these companies confuse you into thinking they are required.