Of course, we changed to a legit Lender and closed the deal.

Good credit.

As I am unable to physically be present to handle the situation, I am seeking advice on the best course of action.Specifically, I have the following questions:How should I handle the immediate aftermath of the fire remotely?

RA to the rescue ... of course these are extremes but it's about the principle... these are strategies that are not for everyone.

@Jay LamGet a new attorneyOf course a LLC needs an operating agreementEven if it’s one person you need an operating agreementIf you go to sell a property in a LLC the title company will need that operating agreement to confirm you are allowed to sign

Of course, check with a local CPA to see if this is okay.

Make sure you get your financial house in order first -- decrease debt, increase income, & maintain a good credit score.

One model I’m seeing investors doing is the rent by the room strategy / padsplit.IF done right, you can turn a single family home to function like a multiplex - increasing the cash flow by double, even triple oftentimes.Has to be the right property of course / layout / characteristics to minimize drama and conflict between roommates / tenants since it’s a longer stay than STR and spaces are shared but with the right set up and systems in place in can be extremely effective and super profitable.You can easily switch from STR to MTR since it’s already furnished and just make a few tweaks.I can definitely help you put some ideas together or connect you with some investors I know doing it in Jacksonville FL. 

Of course, good screening will also help prevent bookings that are likely to cause damage.We've never done application fees, but we also don't do credit and background checks.

*Credit is low to mid 600s due to high credit utilization as a result of covid.