Hi Joshua,To gain a clearer understanding of the overall condition of the home—including plumbing, electrical systems, HVAC, and the roof—and to identify any major issues such as asbestos, water damage, mold, foundation concerns, or wood-destroying insects, I strongly recommend having the prospective properties thoroughly inspected.

Some options that might be viable for you include: Private Lenders – Such investors usually offer short-term lending but provide greater flexibility compared to a traditional hard money lender.Lines of Credit – Another alternative could be an excellent option to finance several deals at once using a business line of credit or HELOC (if it applies).

They allow you to include up to 6 months of rent payments in the loan if you are unable to occupy the premises during the renovation.Just to be complete, it's also worth mentioning that both the VA and USDA have renovation loans.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

HUD 4000.1 (I believe) is the latest HUD handbook and it goes over all requirements for originating the loan, including but not limited to occupancy requirements and exemptions.FHA occupancy : "At least one Borrower must occupy the Property within 60 Days of signing the security instrument and intend to continue occupancy for at least one year."

That includes changing filters, lease agreements, walkthroughs.

As for evictions, here is a tip from the one "cash for keys" move out we've had: don't be afraid of a little vacancy; a prospective resident with every red flag flying proudly in the wind is not a good match, even if you're new to the MTR game (as I was :) ) 

One thing that I REALLY hate is that most of this Lawyers have great structures and setups...but very expensive packages that include entities that are not necessary.More info tomorrow.  

Is it right that short term rentals are considered as licensing the property for use (similar to a hotel) and not a lease for a long term rental and therefore do not require a brokerage license to provide management services that include price adjustments? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.