Structuring a 203(k) loan for your partnership involves some creative thinking, but it’s definitely worth exploring.

The STR is a lot more work and even if you get a manger, you may have to be involved.

It’s about resilience, resourcefulness, and taking steps forward, even when the odds feel stacked against you. 

Permits may be needed for bedroom or bathroom modifications, especially if plumbing, electrical, or structural changes are involved.

You are possibly setting yourself up for immediate failure.....there are too many moving parts and too much money involved to mess up this facet of the project.

By the time I got to that point the cost and time involvement was so high I decided it was a distraction to what was already working.  

A common strategy used by investors, such as those operating through PadSplit, involves purchasing the property, completing basic rehab, refinancing, and then using cash for the interior build-out.Another potential red flag, even without converting common areas, is the addition of individual locks on bedroom doors.

Some people were told to lie by more than 2x the actual income, even though the person didn't have a job and massive student loan debt.3) I looked into the proprietary network that has 29k members; it was quite odd how 99% of all message posts received 0 responses.

In the meantime I will continue the search for a new PMC and talk to our lawyer with the intent of filing a suit since odds are it will be needed. 

@Jonathan Cooper - Sounds like a short-tax year is involved.