Quote from @Bryan Maddex: Hey @Shawn CallanI sometimes cringe when i see some replies to threads so lets clear up a few things. 

I've researched the 15/3 rule a bit and it doesn't look like it actually helps you if you are already paying the balance to zero each month.)By rewiring your brain to bi-weekly clearing of debt's (paying) it put's a persons mindset in a much better cash-flow management place.

•Get clear on your end goal ASAP so you align the rehab with it.Ultimately, there’s no universal “right” or “wrong” answer here—it depends on your situation and goals.

Many investors choose a profit-sharing model for true equity partners, often splitting profits 50/50 or based on the level of their contribution to the deal, but ensure everything is clearly defined in writing to avoid misunderstanding/miscommunication. 

Quote from @Kar Sun: It appears the law requires you to allow them to attend, inspect together, and mutually agree to a list of damages: https://codes.findlaw.com/tn/title-66-property/tn-code-sect-...Print that off and follow it.Make it clear to her that she is not permitted to bring guests.

And still have them sign a lease like you would everyone else, so it's all clear up front.

You can outline this in the lease with clear examples so tenants understand how it works.

@Edward Suess-HassmanTo make sustainable investments, set clear goals, research markets outside the Bay Area, consider creative financing, learn from others, build a strong team, and use educational resources.

The risk in lifting these houses is there's not a clearly established market for flood damaged homes that have been elevated.

If I were to go this route I would clearly identify each of these risks individually, understand how the Govt would potentially challenge each of them and then assess in your particular fact pattern how you would effectively rebut a challenge to each.