Each lender / investor will have their own guidelines in terms of reserve requirements needed on purchase transactions. 

They focus on finding long-term tenants, and it's a win-win as less turnover is less expense for us and less work for them. 

I just wanted to get some insight on how common it is to request mold tests prior to purchasing a property and testing for mold with long term buy and holds in this climate.Thank you in advance! 

Get Pre-Approved for a Mortgage3.

It can come at the very end so that you're not wasting your time (and theirs), but the kind of long term damage that a bad tenant will cause to a property is not something that they can quickly and easily hide so you want to get eyes on how they are currently living.The age of the house has nothing to do with section 8.

My passion lies in real estate development, particularly in the realms of short-term rentals (STR) and long-term rentals (LTR).

Long term opportunity in phenominal location How did you find this deal and how did you negotiate it?

At this point, the work (labor + material) is likely tracking at $15 or less per sq ft.  

We have a duplex and a lake townhouse that we rent long and short-term out of state so we have some experience as landlords.

I would strongly recommend getting a pre-approval or a letter of intent before you talk about a Heloc.