Keep in mind whether you are the investor performing work without permits or you acquired a property where the improvements were not properly permitted, you are opening the door to greater liability and less avenues to hold those responsible for construction defects accountable.

We are considering taking out the required cash to make up that total from our savings, brokerage, and 2x TSP loans from our individual accounts.

If you have a good credit score and a stable income, you may be able to secure favorable loan terms.

In my experience, there are plenty of small banks/credit unions that are cool with student rentals as long as they're all on one lease.

Rents have doubled with autopayment mandated via credit cards. 

We are not sure the implications of using an LLC business bank account to receive rental income if the house is still in his name personally.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

They check criminal, credit, and eviction records and provide a solid report.

We also have a large population of migrant workers in the area and the consideration was that this might be a way around a standard lease with background and credit checks. 

5- Is there anything else I need to be careful about or take into account when buying a subordinate lien?