It appears you are focused solely on the financial components of the project without understanding the insurance and liability factors of self-performing the project in the manner in which you propose.

The IRS defines a repair as something that keeps your property in good working condition without significantly adding value or extending its life.

MO has a pretty well defined zoning laws and regs.

This could be anything from a Letter of Intent as a prelude to a purchase contract to an actual purchase contract with an OPTION to purchase for a small option price subject to a defined time due diligence period.  

.), plays a big role.Generally, there are three main refinance options for BRRRR method investors: Conventional loansBank/credit union loansDSCR loansConventional loans are generally defined as loans originated under GSE (Fannie Mae/Freddie Mac) rules and guidelines and securitized.

(Note: These are non-negotiable requirements that must be provided) MBE/WBE/Prevailing Wage: All projects that seek City assistance are required to have a certain percentage of Total Project Costs (TPC) that are being performed by certified Minority Business Enterprises (MBE) 26% and Women Business Enterprises (WBE) 6%, as well as have labor costs that pay prevailing wage as defined by the State of Illinois.

Some terms you may find helpful:Repayment Schedule: Clearly outline the payment schedule (monthly, quarterly, etc.).Balloon Payment: If applicable, specify the amount and due date of any balloon payment.Prepayment Penalty: State if there’s a penalty for paying off the loan early.Default Terms: Clearly define what constitutes a default and the consequences, such as foreclosure procedures.Insurance Requirements: Ensure the buyer maintains property insurance.Maintenance Responsibilities: Clarify that the buyer is responsible for property maintenance and repairs.I hope this helps you out, have a great day!

Define what you want to manage.  

Oddly enough in this document they define multi-family as: “ "MULTI-FAMILY" means a structure containing three or more dwelling units or a bed and breakfast dwelling that has six or more guest rooms. 

I think assumptions are easy to make due to this being all text, but my mind is absolutely not made up which is why I am posting. i raised the concerns with my sponsors around the high IRR and fees and other points you all made and she countered with the air bnb component being the reason.