My Contractor an I visited both properties and he provided the quote for services and materials.

Also, it creates value as properties are improved and a service is offered.

Property management and cleaning is key - since you don't live far away, you can get away with managing it yourselves (communicating with guests, arranging cleaning, arranging repairs) but you need to find a cleaning service who would be available in the short turnover window.

How much are you planning to borrow and will the new actual income adequately service that debt.

I know when I do deals I custom create terms for my folks and not all terms are exactly the same. .. remember this is total beginner borrowers who don't know what they don't know that is who would respond to a no money down 100% loan.. with the highest rates in the industry right now.. ( which I totally get and would expect for the risk they ultimately take when and if they close a loan for a beginner with Zero money down.. 

It certainly does fulfill the requirements I'm looking for but I guess I should also indicate that I'm not interested in servicers either.

She kept the apartments maintained and heated (one one system and service now) but never rented and legally converted it to a SFH with the town. 

I would like to speak with those with experience in their service.

I lost 10% of the debt service ratio for being vacant, otherwise I could have gotten to 75%  91,980 cash out 1,750, processing fee1,606  origination 87,614 house and reno 90,970 Total spend 1010 cash outIn the final analysis, I got all my money out. 

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.