To whom this may concern, I am an investor looking to buy my second property.

While a western WA deal might not meet some Midwest cf metric like 1%, it will be above the market cap rate or below FMV of comparibles and give you options. 

Quote from @Melissa Stanley: I’m hoping to purchase a few properties with a friend/business partner but after meeting with a lawyer am even more confused.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

Hi Leo, its been years since I closed on a HUD property but you close on the property as soon as title is ready like any other property.  

ACT and the various localized distressed property laws.

Just had a quarterly Bank advisory meeting for small towns and areas  All technical people are Harding to get.  

The property ended up being his book keeper's home that she had rented out and was needing to sell.

All this to say they are getting serious about permitting so if you are planning to invest in San Antonio in the short term rental space, MAKE SURE to check that the property is eligible for a short term rental permit given the density limits above and have a Realtor experienced with the San Antonio permitting requirements and rules. 

Since you already have an offer, it’s not really about whether the property will sit for six months, it’s about whether keeping it makes financial sense.