I'd highly recommend working with a lender who has worked with STRs before.

VA property standards will apply here, and commercial real estate tends to be more beat up than residential in general, and on top of that high vacancy real estate is also almost always beat up real estate that has been poorly managed and maintained for several years.

A good painter can Spray pretty good if he has the proper tip , good quality paint, and at least 100 jobs done prior to yours.So many factors involved,  are you protecting the flooring,  changing colors a lot lots of repairs done prior?

The bank account verification allows me to accept 1099 workers , business owners, and side income verification with a high level of confidence.

Investing in New Builds: Considerations and ProcessNew Build Investment Options:Build and Sell (Fix and Flip):Pros: Potential for high profits with modern appeal.Cons: Requires significant upfront investment and market risks.Build and Hold (Long-term Rental):Pros: Attracts quality tenants, potential for higher rental income.Cons: High initial costs, market fluctuations.Process Overview:Market Research: Identify high-demand areas.Land Acquisition: Purchase suitable land.Design and Planning: Work with architects and obtain permits.Construction: Oversee build quality and manage costs.Marketing (Fix and Flip): Highlight new features to attract buyers.Tenant Management (Rental): Implement thorough screening processes.Advice:Educate Yourself: Understand local regulations and market dynamics.Risk Management: Prepare for potential delays and cost overruns.If you have any other questions/just want to discuss feel free to reach out to me directly!

The examples were very real world and they even provide a lot of excel and word tools for different aspects of the process that I will now use moving forward.They have more that covered specific parts such as project management, development, property management, etc.

Do property management companies usually have high portfolio minimum balances and upkeep expenses for properties?

IMO, it can be useful as a screening tool.

We only agreed to the ridiculously high fees because we wanted to establish business credit for new LLC and were told we could get the lump sum in our account in 2 weeks or less.

You might be able to find some materials online but you gamble on the quality.In my case this is what I follow:- Construction material locally so we quickly can resupply - Flooring locally (I find better prices and service this way)- Plumbing locally (I bought online for my first remo and quality was really bad) locally are more expensive but I don't gamble anymore as plumbing is something that is always a time constraints to complete and continue other works.- Electronic fixtures like fans, etc online.