During demo, if they open up a wall and find a leak that requires a change order. the change order should be specific to that repair and have a cost associated with it. 6.

LTRs with long term conventional financing and standard management aren't really cash flowing anywhere right now. sure, there are lower cost markets that look better on paper, but there are costs associated with those supposedly cheap markets as well - deferred maintenance, more challenging tenant base, higher cost turnovers as a percentage of the rent.2. i wouldn't pick a random market thousands of miles away based solely on statistics or numbers. 

Where it gets interesting is that the house has 5 mailing addresses associated with it and the fire prevention bureau has on their records it is also a 5- unit house, and I am billed as such upon annual renewals/inspections.

It is also important to consider the transactional fees associated with originating the HELOC, whether an appraisal is required etc.

While I understand the risks associated with investing in areas unfamiliar to you, my budget forces me to do so.

A great way to start is by attending RE events and joining a local investors association.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

Attend local builder associations or networking events, and focus on small contractors or businesses without in-house permit expertise.Highlight how you save time and ensure compliance—it’s a big value-add.

In addition to that, platforms like HomeAdvisor or Angi are great for finding vetted professionals, and local builders associations or the Greater Beaumont Chamber of Commerce may have directories or recommendations. 

It's a real estate investment association in the central florida area.