Do you need tenant's approval to assign a property manager/or hire a different property manager as the managing agent of your property?

Cash is cash as others stated, a HML may or may not require approval, appraisal, etc.

ROFR & Approved Buyer. 

Thank you Hi Andrew,Something like this where you utilize contractors to do the work might be close to a decent overview, sans info about running it as a business.https://www.amazon.com/Complete-Guide-Contracting-Step-Step/dp/1440346011Business Decision:Parcel A can hold 157 SFH's max with proper road layout and city approvals of that amount for water, sewer and electric.Buyers clamoring for lower density at a better builder profit than higher density, so 100 sfh makes more money on Parcel A this year.Builder believes sustainable will bring higher profit on Parcel A than lower density (typical for the area) SFH's at that price point. 

How were you able to get the VA to approve the purchase if the house was a wreck and nothing worked?

For example, we are in the process of getting approved for another STR in TX. 

The franchisor will have an approval process that has to be met for your buyer, as Lara mentioned.

The lender would account for their income and credit as well, therefore, authorizing pre-approval.

I'm still not pre-approved for a loan since I don't have 2 years of tax returns working as a RN but I'll keep your name at the top of my list.

I would follow up to get pre-approved and determine how much you qualify for.