I want to grow and scale quickly.

Would it be seen as some sort of unlicensed lending because I've scaled it up to be a large operation?

I just ran this search and got a large list of results.

You could also get hung if you can’t refi later for whatever reason and the hml is going to want a large down payment.  

@Rajesh T.You shouldn't be taxed twice on the sale of a rental property.Normally the sale of an investment property is two fold.Capital gains taxDepreciation recaptureDepending on your tax rate - capital gains tax rate is either 0%, 15% or 20%Depreciation recapture's tax rate is capped at 25%It is true that selling an investment property with a large gain can ultimately push your other income to a higher tax bracket.

The property is at the bottom of a very large slope, and drainage was a concern.

You also want to make sure your profit margins are big enough to support a large market shift.

The agent doesn't have anything to lose if you buy a property with large capital repairs you weren't aware of.

And @Bjorn Ahlblad brings up a great point about sellers (and even more so, brokers) tending to overstate by a grade or so.But now things are even more complicated in that using Lennon's grading scale a class B property could be built in 2002. 

We will be paying the entire cost of the place over the next 17 months from developper.The most likely plan is to take out a 10-year HELOAN at about 4.5% fixed on my primary house in CA which has a large equity to pay for the property over the next 17 months and then amortize that over a longer period of 10 years.