You are effectively operating a hotel, which is a business enterprise with very different risks and hazards to insure.  

Lenders can have different loan options based on the property type and the amount of rehab (if any) required for the project. 

Quote from @Sam Walls: Hey Marcus, I work with a lot of investors in the Philly suburbs, and I can tell you that connecting with like-minded people in the early stages of their journey can make a huge difference.

What's the difference between co living and shared housing?

I am thinking construction loan, but how to pay for it while the construction is going on is a different story.   

Just keep in mind each persons situation is completely different and small things can make a big difference in rates, fee's points, terms, etc. 

Everybody is doing something different, and it does not mean it works for another person.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest. 

My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.