DSCR loans generally require 20-25% down.

They start a construction company , work as a sub , the General now has been given all they need .

See responses to your questions below: Correct, California is uniqueTo qualify for REPS you need to meet a number of criteria, including (but STRs that meet IRS criteria generally don't need REPS to leverage tax benefits): More than 50 percent of his/her time working in real property businesses; AND, More than 750 hours of service during the year.

., I believe the heart of Jaron's comment is: in general, you will not find much better deals at auction.  

Generally there is no immediate tax implication to doing this. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Depending on what he is offering you i searched the address with the secretary of state. 

Is anyone actively doing midterm rentals in this general area and willing to help some new comers out?

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

On the flip side, if you've got a bunch of Section 8 tenants living in a building that's in a neighborhood where a lot of the tenant base has good jobs, high credit scores, and are generally reliable people, you've got the most risky tenants in that tenant base and that ain't what ya want.