I have done things with attorneys, CPAs, stock brokers, insurance brokers and others successful in business.General business knowledge, understanding of financing requirements, knowing property valuations, maturity in personal financial matters to give general advice, understanding of the foreclosure process, legal aspects as to liability in leading someone into financial matters, fully understanding fraud issues and the differences in a general matter where fraud might be applied as generally thought of and what may constitute bank fraud causing or even attempting to cause a loss to an insured bank having different standards.

It's not just Sharia but orthodox jews and others that have similar structuring requirements as far as not paying interest.

I'm also trying to keep my eyes peeled for properties that require some rehab (kitchen/bath/flooring/etc).. not major projects.Details: -I have set aside $350k of expendable cash, and I'd like to leverage this. 

These properties will require more of your time and probably more hands on then the general flips.Also, the further you are away from your property the more control you will lose of it. 

In most states the seller is required to disclose any material defects they are aware of.

Different ones require you to go to the decking, others do not.Personally I'd always suggest to take things down to the decking. 

Collect a security deposit when the lease is signed and require payment of the first month's rent at move-in.

This is still a very tricky area for lenders as there are not many "industry-standard" tried and true rules - many DSCR Lenders and buyers of these loans are still wary of the SRO model - that being said, it is a lot easier and more flexible to underwrite on an acquisition if you are buying and the property could be utilized as a LTR / MTR or STR as that allows for a more tailored projection (as long as the property doesn't have unique or altered characteristics that would require it to be a SRO / MTR)

If the city is ok with STR's, I then check to see what permits are required for STR operation. 

To comply, we asked the husband to complete the rental application and submit the required documents, including ID, SSN, and bank statements.