No rules to follow on HM investor loans lenders make the rules unless your in one of the about 15 states that requires a license then there is just a few simple docs that must be signed by the borrowre.

The required POS inspections become one added layer to closing a deal, but as you’ve seen, some properties come with completed POS, while others require repair escrows that can add up to around 10-20k. 

I'm planning on putting 25% down because that is a requirement of the loan.

I can't name a single state that requires the disclosure of insurance claims.

You will have to check your local laws but I am not aware of a requirement to post to the MLS.

Lending to Entities Only: (Not required but think carefully.)

Permit eligibility is based on region (usually the west side of town) and density (quantity of surrounding STR's in the area) as well as percentage of landscaping and minimum parking requirements. 

Cash in from other members seems required.

We're looking to gather info about likely cost, pitfalls, time required, considerations when obtaining financing, etc. 

It may require different insurance too..