And once you've got an approved applicant, then you present them with your lease, which needs to be comprehensive in its protection for you and of your property (mine is 24 pages and counting as I encounter new issues, and it contains fines for certain violations) - check your state laws.

I am open to all options of lending.Hi @Nolan DaltonDetermining whether a property investment qualifies for a DSCR (debt service coverage ratio) loan can be a complex process, but by following a few key steps, it can be made much simpler.Understand the DSCR requirement: In order to qualify for a DSCR loan, the property must have a DSCR of at least 1.25.

Trade school for plumbing is 2-4yrs, I'm not gonna take you from 0 knowledge to full comprehension on a web forum. 

The property in question is a mixed-use, with a ground floor commercial unit, and one residential unit upstairs.  The property is owner occupied, with no residential renters, and no commercial renters, what type of pr...

Have you verified with your builders risk carrier that you will have coverage if there’s a claim and the renovation is completed without proper permits?

I can get coverage through Texas Windstorm Insurance Association (TWIA), but they would not insure without a new roof that meets their standards.

You can also look into an umbrella policy for higher coverage but not always needed. 

First step is to check with the city or county to find out what the zoning is and the allowable uses are and what is required for development in terms of lot coverage, setbacks, height restrictions, utilities, access easement, parking,  etc.

The irony is most investors who form LLC's do not operate them correctly, fail to obtain appropriate types or amounts of insurance coverage, fail to understand their coverage exclusions, take short cuts and don't obtain permits, use unlicensed and uninsured vendors,  fail to execute contracts with same vendors, don't understand the mechanism of additional insured status, indemnification etc. and are actually more prone to claims and conflict with their LLC than the individual who does not own real estate in an LLC but understands these tools I mentioned.

IMO the best investor contracts are short and simple enough so as to not be intimidating to sellers, but comprehensive enough to include all the necessary buyer protections and local requirements.