Sadly, I never really took the time to learn from her, so I've started this process with no expertise.Honestly, I've been lurking on forums, reading blog posts/books, and grilling coworkers with portfolios, trying to piece together something approaching a business plan for a few months now.

Also, I have the insurance issue to contest with it being designated appropriately.  

All design fees include prints, assessed value, and for investment properties Projected yearly income.

It’s also normal for them to take awhile, boards usually only meet once a month and that is when they approve/disapprove unless they have designated people.I’d suggest compromising that you will give the security deposit now and the first months rent when a move in date has been confirmed and in writing.

Jiu Jitsu, Day Trading, Leadership, Investing, Cryptocurrencies, Comic Books (Nerd Alert), Graphic Design, Knifemaking, Marketing, Wakesurfing, Fitness, Keto, BioHacking & I’m absolutely 110% addicted to tacos & audiobooks!

I agree with the 1031 exchange approach if you are wanting to stay in real estate.Regarding the pending crash...I am not sure if there will be a crash but I am expecting a slow down if rates rise 2-3 times this year and then 3 more times in 2019. 

Now buy and holders (if it approaches the 1% rule) and owner-occs could be interested. 

If you're interested in out-of-state strategy, I'm happy to share my approach.

They approached me with the deal because they couldn't get the math right nor a bank to finance the project the way they had structured it with the seller. 

A coworker of a family member approached me about buying a house and renting it to her with a lease option as she has bad credit (but a good job).