The best place to start is to pin point the exact area/city where you would like to purchase a property.

I dont really have a lot of cash on hand (due to renos) and don't have any big loans or LOC to draw from.I have a background in civil engineering and have a good understanding of residential housing and construction.

My client's have been happy with the draw process and response times as well.

In Oklahoma City, spots like Bricktown and Midtown are always buzzing, while Edmond and Norman draw steady demand thanks to strong schools and job opportunities.

*Location Matters — Neighborhoods that have high demand, quality schools and close proximity to shops and services tend to draw buyers willing to pay a premium for a well-renovated house.

You'll need money for: closing costs, down payment (if any), operating capital to get the construction/rehab started (most HMLs reimburse you in draws for the work completed), along with some liquid reserves on top of that.

I suspect part of the reason might be because I have a no-alcohol policy for my property, which I understand might draw a lot of people away to some extent.

I highly recommend an attorney to draw one up as each state and each property can have unique issues. 

In terms of the permitting process, an architect that can self certified drawings would reduce the wait time to receive the permit. 

The draw to Airbnb Arbitrage is due to not a lot of capital to start with.