You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

Our names go on title and our loans have the real estate as collateral so they are “secured loans.”  

One was conventional financing and the other was a portfolio loan from a local bank here in Hawaii, I also did a lot of research into DSCR loans during my search.I'm also an agent here on Oahu but focus mainly on Property Management, at the brokerage we manage roughly 50 units that are a mix of STR, MTR, and LTR's. 

How do you pay for the tax and insurance?

My question is around property insurance and specifically what are everyones MUST HAVE COVERAGES. 

I don't think you will get anyone to loan you money on tax liens/deeds. 

@Devin James  I'm straying from the question slightly, but personally if I was able to raise those funds, I would use it as a downpayment and get a loan for the rest. 

Commercial mortgages are really DSCR loans.

Hello I have a client who needs to do a purchase and rehab loan on a four unit property in New Orleans.

@Collin StewartSince you're PCSing to Columbia, SC, and have VA loan entitlement remaining, house hacking a small multifamily with a VA loan is a strong option since it requires zero down.