Then if the LL agrees to the LOI terms you’d draft the official lease agreement that includes all of those terms for due diligence, feasibility, permitting, construction, rent commencement date, etc. 

I love the Tahoe area and I had actually been playing around looking at cabins, 2nd homes.

I would suggest adding a pet addendum or modifying the page of the lease that refers to pets.Having the changes initialed and dated by all parties and reflect the changes to accounting "pet deposit" or additional deposit.

Let me guess your "team" doesn't actually own any investment real estate and you learned about investing off an online guru?

My Dad used these in the late 70s into the 80s its a very clear and concise debt instrument that actually explains these wraps very well.It was to my knowledge first created in California were we had our operation..

A strategy I try and use is to push closing dates or pull them in to the beginning of the month to give you that extra time up front before the 1st payment is due.

The earnest money never goes to the actual seller.

Pretty much everything is negotiable in real estate.Loan Origination is how much the lender is going to make on the file (if direct lenders: this is typically a junk fee; if brokers: this is your loan officers compensation).Points: this is the cost for the rate itself (if direct lenders: this can be negotiated, as they manufacture the rate sheet with profit baked in; if brokers: the rate is the rate, you are getting bottom of the barrel pricing).Credit report/appraisal: these are the actual costs -- no money can be made.

We've seen a large influx of OOS investors over the last few years due to the low price points and ability to actually cashflow, while still seeing appreciation over the long haul (I don't think many primary markets check all three of those boxes with the current state of the economy).

One cool thing about the 203k is, although the FHA loan only allows the property to be up to 4 units, you can actually buy a 5-unit or 6-unit and convert it back down to a 4-unit, and it will still qualify.