Planning to start a complete home remodel (interior/exterior) on a home (currently 837 sq ft), kitchen and bathroom bump out, and add an additional bathroom. 

You and this private person you met hammer out the details of the loan at the kitchen table so to speak and you seal it with a handshake and your reputation that this Private Person already respects or whomever introduced has vouched for you.But if a man opens a lending company tomorrow with 50 Million of his own capital and he checks in on the HML market to see what it bears and he copies his products and UW guidelines and now is he PML or HML? 

Start with a rental that has modest rehab requirements such as updating kitchens and bathrooms and make sure you qualify for permanent financing through a lending source that offers interest rates similar to that of  a bank.

@Jewell ArceneauxFrom my experience, focusing on impactful upgrades like kitchens, bathrooms, flooring, and curb appeal yields the best results.

you just have to estimate them based on what the property needs.so if it needs a new furnace + a bathroom gut and remodel + new windows, you estimate that.  

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

After tackling affordable upgrades like kitchen makeovers and adding an ADU, they focused on medium-term rentals for traveling nurses.

If you have other channels to list on, I recommend starting there and then launching on Airbnb/VRBO until you are within the booking window for your market.

Chicago title in the day their customer service department kept a spread sheet for me of all the NODS in the 4 county market of Portland OR that is 3 Oregon counties and clark co was across the river.. this spread sheet which they updated daily would show address  lien position and property tax and any other judgements like IRS .. this was a service to garner my RE companies business I had 50 agents at the time working for me plus all my personal volume .. then I had a team of door knockers who started knocking doors ONLY within 7 days of the sale date ( as thats when people get really motivated to do something) Once a deal was struck ( we negotiated how much we were going to pay them and how long they could stay ( rent free mind you) the deal was done over the kitchen table cashiers check to them in exchange for a deed to me..

Most landlords will use the remodel clause to remove tenants if they dont want to sell.Just replace the kitchen and bathrooms.