I do not have a lender right now, and I will need the 12-month rent history as well as various metrics on the property such as insurance quote (which needs property information in order to obtain), existing debt, and purchase price (which would be established while making offers).

The comps that do exist seem to be performing at a high-levelMarket Overvaluation?

The business plan to pay untenable returns is not untenable, it’s non-existent.

Take over the rent to own agreement from the existing tenants, or something else?

When I inspect the property I can usually get a feel for what deferred maintenance exists as well as what it would approximately cost to make the place rentable.This gives me much of the costs.

However, seasonality still exists and the summer is low season.

This eliminates the requirement for a new down payment since you are refinancing the existing debt.Lenders typically require:A copy of the owner-financing agreement.Proof of on-time payments (6–12 months).What to Do:Find lenders that offer rate-and-term refinancing for owner-financed properties (portfolio lenders and DSCR lenders often do this).Maintain a clean payment history.” 

I'm more used to underwriting MF deals and extrapolating existing T12 data, so this is a bit different for me.All the properties are 3 beds, ranging from 1000 to 1400 sqft.

Start with BRRR in some areas that have lower barrier for entry    Pros: Could potentially get to the second investment sooner    Cons: No existing contractor connections.

For anyone following: It cost me $5 to file the updated statement of info and I simply drafted an amendment to the existing internal operating agreement to clarify our intent to operate as a married SMLLC.