I will be paying the mortgage without being able to get a rent for that.

@David To I don't think you'll find anyone since renting for less than 45 days is illegal there.

I will be renting out the home to an individual who will be sub-letting the home to an Assisted Living Facility.

The other option is to fix up and rent which may work if there's enough demand in the area. 

You may need something from a property management/rent collection standpoint to complement QBO.

Here are the Top 10 Areas with Fastest 12-month Multi Family Rent Growth according to NAR:Lancaster, PA - 6.74%Evansville, IN - 5.52%Springfield, MA - 5.34%Louisville, KY - 4.95%Syracuse, NY - 4.92%Youngstown, OH - 4.85%Rockford, IL - 4.40%Providence RI - 4.28%Reading, PA - 4.26%Dayton, OH - 4.21%

i have the current rent rolls & yearly expense report so far. however, i would assume they will require much more. as i have never approached a hard money lender, i would appreciate any advice given. im in texas by the way. thank you

Any company insuring your properties without an inspection most likely has a clause buried deep in their policy allowing them to deny claims for conditions found on the property that do not meet their UW standards and they will deny you claim based on "the house should have not been insured with them anyway".Although the inspections can be annoying look at it from the other side.You pay them 1000 to 3000 a year to insure a rental property where they agree to pay out possibly hundreds of thousands of dollars if it burns down or up to 1 million if a tenant slips on a bananna peel and falls down the steps or the tenants dog bites someone and since you didn't enforce the tenant having their own renters policy to cover the dog bite the landlord's policy is paying out.The insurance company is very much like your rich uncle backing your business venture - you run the business, he takes on the financial risk from disasters, and doesn't even get a say in who lives in the property.Your rich uncle asking you to fix the steps, put up a handrail, etc which is in your and his best interest long term.Do you really want to rent out a property with a busted front step and a bad roof that is going to leak sooner than later?

If not then lower your monthly rent a little and charge them if it makes you happier.

Then we’d move back into our current home, finish the reno, and rent after 12 months.Thanks!