If your loan was above $3MM HUD loans rock because the product is a fixed 35 year in the 3's. 

If not, I’m not saying don’t do it, but definitely have a plan B and run your numbers based off of if it were short term or long term rental in case you had to change your plan for some reason.   

All public REITs reported in May for example, their exposure is typically Class A /B+ and they all reported April rents for new leases being down generally 2-4% YoY.

I also play in a bluegrass band and have toured a bit, but Corona has slowed that down for the time being. 

We just evicted one last month because she wouldn't take care of the weeds in the all rock, desert

I rather say "whew, lucky me, I caught interest rates when it's rock bottom".I started REI in the 1980's and mortgage rates were 16%, and I had three of them at 13% after buying down the interest rate from 16%. 

You may own from the studs in (all the sheet rocking, paint, etc.) or from the surface of the walls.

. - The most effective thing I can think of as a non-attorney and non-CPA (so check this before you rock this) would be to have a Joint Venture agreement between your company and the potential partner's company in which your company contributes money to each project in exchange for repayment of principal amount (the loan for rehab) and 50% of the net proceeds of the sale.  

Because we are in the industry, we know operators across the country with A, B, and C class assets. 

Buda/Kyle, Round Rock, Cedar Park and Leander are all good areas.