While this isn't a hard and fast rule, more often then not, these are the guys that can't manage their schedules well, and will be gung-ho on your job for a couple weeks, then be flaking out as they picked up too much work and are trying to keep too many homeowners happy.And lastly, the more detail you have the better the bid will be with few change orders.  

That's why I am here. first thing I learned in RE is I for sure dont know everything and very few folks do.. we are all learning even at 50 years of doing deals I learn new things every week.. thats why I am on BP you have also 50 states rules and laws are not nationwide so I like to know how each state works when it comes to transactional real estate and development.

What I've seen before is the only time rules are enforced are when neighbors get pissed (ie STR neighbors).I would side with caution on this, especially if it is a newer built community where the rules are fresh with people. 

. $50/month does not justify the effort/risk.The 50% rule is way too aggressive at this rent point.  

Asking in the correct forum will get a better response.Read the RULES!

There are some special rules with passive activity.

DSCR has other guidelines, but generally the same rules will apply more or less.

I haven’t ruled out hard money lenders, I just don't know where to find them yet.

Spread your eggs between multiple pockets rather than everything into one property that may or may not appreciate and cashflow as you forecasted.The only exception that rule would be in Austin, if you live there, or in Phoenix AZ just because the growth in the Phoenix metro is so strong and you can still cashflow there. 

Not a normal moderator who makes sure that people who post are posting according to the rules, but an advanced moderator that is an authority on all things that he doesn't do himself, and one that can protect the unsuspecting new investor from dangerous partnership structures and people like me, Jonathan, Don and anyone else you may have on your list.