The extreme southwest corner of what I've outlined (west of Troy and south of Chapel) is the only area I would hesitate to buy right now.I also wouldn't want anything on the main thoroughfares (i.e.

@Sara Holda Here's a great link to the city that outlines a lot of the laws regarding STR in the Nashville area: https://www.nashville.gov/depa... 

Outline a business plan, put up investment criteria, creating financial system and invent property management practices.

Obviously that's not guaranteed, but experts figure it's likely.I would be happy to PreQualify and talk shop - personally I'm on home #4 doing the exact strategy you outlined, home #5 incoming, rates aren't slowing me down.

Lastly, develop a clear business plan outlining your renovation budget, project timeline, and profit targets.

When underwriting the deal, just make sure you have the two exit strategies available, flipping for profit or refinancing and renting for cash flow (outline what metric you are after for the cash flow side, meaning what cash on cash return or whatever metric you are looking for).

**Loan Agreement:** The borrower and lender enter into a loan agreement, which outlines the terms and conditions of the loan, including the loan amount, interest rate, repayment schedule, and any other relevant terms.3.

They may be able to finance you at a low down payment if you have experience, reserves, and FICO as long as the 65% of the value can support the entire purchase price  I wasn't saying 0 down, but the concept of full return of capital. 15% land purchase cash. in columbus land is let's say 50k we build a triplex for 350k which is very close to 15%. small entitlements, reserves required, etc whatever lender asks for. multifamily sells for 200k per door in our market over 4 units, we are pushing the values up. first ones we are working on because of rezoning, etc but it's a full refinance on 6 month seasoning and do it again. that's the scenario that I was outlining. we do it in the urban core of Columbus where new construction trades at $325 a square foot or more for higher rents and higher equity. we could still put more units per parcel in columbus. these are all infill I hate Lehigh acres. overbuilt, no infrastructure, no commercial drivers or asset.

Here is the city's page that outlines the RTLO, and has a link to the complete document: https://www.chicago.gov/city/en/depts/doh/provdrs/landlords/svcs/residential-landlord-and-tenant-ordinance.html. 

Your brokerage would have to allow it as well, would most likely be outlined in your independent contractor agreement.