If it is a regular rental, draw up paperwork that clearly outlines how much money they lent you, when it will be paid back and how much (eg if you buy a house for $400K and 10 years later they move out and it sells for $500K-do they get a percentage of the profit (after taxes and costs)?

NOT having to provide tax info is one of the biggest draws for a DSCR loan, so that doesn't make any sense.

The builder will need to supply a Cost analysis, Blue print and a few other things prior to the Draw being negotiated and set up.The land that you own will act as "Equity" to offset the LTV/LTC so you are off to a good start. 

What is the draw (seasonal vacation, business, sports, beach, mountains etc) who is your renter avatar?

The CO 1st position mortgage was fully paid off and in 11/2021 I opened a $200K HELOC, Borrow Terms are 5yr draw/15yr payoff at 3.99%.  

@Yusef PresleyI would avoid paying contractors hourly and make sure there is a construction draw schedule in the contract that clearly outlines when funds will be dispersed to the contractor throughout the project instead of one lump sum payment.

Are there other strategic locations where we draw some of the Charlotte population for STRs?

The Realtor have more personal responsibility and more flexibility, and that is a big reason so many are draw to the business.  

Do we each also split 50% of an "owner draw" on rent profits? 

He was supposed to ask for a draw at the end of July and hasn't.Recently I've been sending an email every other day for the invoices and link to the portal.