Completely understand.

Quote from @Jack Cottrell: I'm a complete noob.

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

🙏☺️ I completely understand where you’re coming from & you’re right that owning real estate is a key step toward truly being an investor.I’m still new to the game, but I have a solid plan in place to move toward ownership & establish myself as a real estate investor.

The process will obviously cost quite a bit more and Safeguard seems to have washed their hands of it completely. 

So you're not completely anonymous.

@Rob Tara How long will the $1MM (you sound like a former bank with "MM") in rehab take to complete, a year?

Hi thereAccording to IRS guidelines, once a property is ready and available for rent, meaning after you completed the renovations. you would  be able to deduct expenses. snce this was your main home,  the tax accountant you will use will need to do a conversion from personal residence to a rental for depreciation purposes. the improvement you made, depending on what they are, may be added to your basishope this helps

So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

From what I’ve heard in a piece by Forbes, focusing on unique features can lead to higher long-term rental satisfaction... especially if your tenants want a few animals or more outdoor space.