Assuming the place is in good shape, there isn't that much management.5.

Would it be a good idea to take a deposit to secure the deal until the rule clears?

Good morning @Joshua MartinGreat thing about a VA mortgage is you can do an IRRRL even after you have moved out of the property!

As far as renting, I'd say find a good neighborhood and do good tenant screening. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Make sure that you're properly vetting your team members especially your agent that you work with - your investor agent should be looking out for your best interest and should be able to explain why something is a good/bad deal.

I'm interested in following this project when/if you kick it off. we have this in columbus. 58 rooms on .1 acres. 28000 sq ft. but this site the land is 50k it's set same as columbus but in miami dade county but sounds good. are you more interested in the miami one or the columbus one? 

Good luck investing. 

If your property is residential single-family owner-occupied in a good area, the buyer has good credit, made a good down payment, and twelve or more on-time payments have been made, you'll be in the lower range.Note buyers, just like lenders, won't go above a certain loan-to-value (LTV) ratio.

Good luck!