They dig out under each of the slots and then construct the new full foundation.

Andrews Federal Credit Union just approved me for a BLOC w/PG

Granted I live in the Washington DC Metro area and I'm targeting a large population - MD (PG County, Montgomery County), VA (Arlington), and DC.

However asking people about the market is just as much of a gamble as going down to the strip and asking which slot machine is doing the best or which table can I win on.

If the underwriting is following Fannie Mae guidelines, then this section applies: B2-3-01, General Property Eligibility; Property Requirements (pg. 273): The mortgaged premises must beresidential in nature as defined by the characteristics of the property and surrounding market area (see B4-1.3-03, Neighborhood Section of the Appraisal Report) ...suitable for year-round use.Seems like you should be Okay. https://www.fanniemae.com/content/guide/sel041514.pdf

Can you offer any tips or guidance or even companies that do not look for PG when first starting out?

It can be done in SE DC and PG county but it seems like your buyer will just think you're trying to cut corners, even if it's more expensive to restore something vs. replacing it.Once you find that market where a true resortation is desired then you just run it like a normal rehab deal plugging in your costs for renovation.  

As an example:Lease Agreement - they get copy after all parties initial each page, initial                                          acceptance of all addendum & sign signature pg Lead Based Paint Disclosure - all sign form after I give them pamphlet &                                                             form is lease page.

You can also find us on meetup.com as - Rogue Valley Real Estate Investors Network https://www.biggerpockets.com/forums/521/topics/418582-how-to-evaluate-a-dealhttps://www.facebook.com/pg/RogueValleyRealEstateInvestors/about/?

@Jon Klaus   ABSOLUTLY   Not sure how it is in your area but if you want to borrow from a bank for RE deals there is always a PG  and most if not all HML I know require it as well.