This just seems like it puts me in a potential bad situation if something goes wrong during the process.  

Be careful not to violate any Fair Housing laws during this process.

Happy to share my experience if you want to send me a PM.RyanHey Ryan, we are in the process of looking at buying a house for an STR in the beach Mountain area.

After the operator exceeds 90 days in a calendar year, the conditional use permit process must be started.

Purchase price: $150,000 In the process of buying 1.21 acres in Isabela, Puerto Rico.

I know that you do a great job smoothing out any "rough spots" in the lending process, so that certainly helps when the deal starts to go sideways... 

Negative CF, which is what you are describing, means you are buying your property, and making no money in the process.

If, through the process of renovating the property, the market shifts, do you have an alternate plan for the property, whether it be to live in it until the market improves, or convert it to a rental property, etc. 

Right now, I am an aspiring real estate agent specializing in investment properties while also in the process of developing an app!

I say take a gamble for anyone in which its even possibly feasible for and trust they're process.