I'm sure there will be others with their own (and possibly conflicting) opinions, but for question #1, I always advise my clients to focus on properties in areas that 1) they currently (or previous) live in/near, 2) they travel to frequently, or 3) they have family/friends in the area.For question #2, the answer is going to depend on what you do for #1.

Reporting begins when it's placed in service, not when it’s first rented.This post does not create a CPA-Client relationship.

I have had a couple of clients just get the loan approved with the long term rates and then the bank really doesn't care how they get it rented out after.

Like you, when I'm working with clients I highlight the key advantages of the conventional rehab loans (Fannie Mae's Homestyle and Freddie Mac's CHOICERenovation) are:- They can be used for investment properties- You can include luxury items- They have a higher limit – $806,500 in most places.Jeff

Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.

Remember you are exempt from excise franchise tax if you file an exempt form.This post does not create a CPA-Client relationship.

I'll be happy to refer your partner whenever there's a client ready to start a project.

ThanksI have a former client that used them.

Make sure to ask for client referrals and interview more than one company in Flint.

Check out this podcast from BP, with Dave Meyer and Chris Clothier from Nov.we work with clients all the time in your situation and can help strategize your portfolio to reach your 10-15 year goals!