Its crucial to know your community and understand what you are investing in. I

I'll look over the contract and what the fine print is here.This entire first journey of looking at real estate has been stressful from afar, and this deal sounds like it has a few of the crazier aspects of real estate (and I'm sure there's even more)Why the listing agent put tenants in, I  have no idea. 

That's why I was leaning to foreclosures so I can do full cash (heloc) purchase.The other part I need to get more fluent in is how to document all of those action items in the LLC to keep the corporate veil. 

What shape are they in? Is

In y investing experience nice, affordable areas grow quicker than more expensive areas.

Checking in with the BP public on this...wife and I just bought and moved into a SF this May at 6.812% and the monthly payment (4319 all in) is pretty painful.

The 90%/100% programs are out there for new investors, I know of 1 maybe 2 that will provide those terms to a new investor given:Credit is 750+Appraisal numbers came in fantasticThe zip code the house is in is a favorable one for an exitI've closed or oversaw the close of 100s of bridge loans, be happy to answer any questions you may have about it.If your ARV is 550k, that means you want your max project cost to be about 398k (72.5% of ARV), if you buy for 359k that leaves hardly any room at all for rehab costs. 

The ones I have grandfathered in, I can get funded no problem, but a new Foreign Investor is a tough placement right now. 

Cash Flow: In house hacking, any cash coming in is good.2.

The only way a STR is grandfathered in, is if the property was already permitted and set up before the regulations went into effect.