His solo income needs to meet your requirements.

Managing the $60,000 renovation budget required careful oversight to ensure timely completion.

Managing the $60,000 renovation budget required careful oversight to ensure timely completion.

Managing the $60,000 renovation budget required careful oversight to ensure timely completion.

I don't mind not having cash flow as I do have other lines of income however, I definitely don't want to go in negative and I do want my property to appraise over the period of time well and not give me too much maintenance headache.

I'm particularly focused and eager to learn as much as I can about the Sub-To (Subject-To) method and Owner Financing.A little about me: I own a multi-service home improvement company, which has given me a solid foundation in property maintenance and renovation.

Also, it is 100% NOT a requirement to have 2 months of receipts on rents to qualify for Fannie Mae.  

if you have to demo it all, way easier to have it done vs spending time or money and less surprises.very different project then 20 yr old cosmetic flips and may require a lot more permitting and upgrades since it's all open the building dept may want you to meet current code as much as possible.

Most HOAs, nearly everywhere in the country require rental agreements to be either in 6 month, or 1 year intervals.

Keep in mind though, the higher the EMD requirement, you may end up having buyers pass on the deal, so just make sure the amount is fair to both sides.