In my personal experiences a lot of structural items start with bad drainage.

It's good that you have two ideas to start with.

The second red flag is he's trying to build his credit back up.

The best thing you can do is start by educating yourself.

Quote from @Laura Yelin: Hello BP'sI like Sherman...I lived there for about 3 years many years ago and still sell and rent there.It's a slow wealth building market in my opinion, not get rich quick.Mostly blue collar stable town.

Congrats on getting started with the STR business. 

I wish I got started when I was your age.

Since you’re already diving into BiggerPockets, focus on clarifying your investment goals (house hacking, multifamily, or BRRRR), building your network with experienced investors and lenders, and most importantly, taking action by analyzing real deals.

Start with the address and details about the rental.Create a section for tracking the lease information.

If someone has a deal that they are up over $1m (including the small cash flow) and I was starting out, I would be all over the financials and the plan.