There’s also plenty of lenders who will fund construction and provide for a stabilized release which works similarly to a cash out refinance.

Real estate agents are usually not also licensed contractors who can provide that information, so unless yours is, he should not be stating everything is in good working condition unless he can provide you with a professional report supporting that.

Time would be the biggest variable.Assuming the same repeatable services will have to be provided for STR & MTR, that are not provided for LTR, the costs may not be that different.Taking care of lawns, monitoring & paying utilities, taking calls, etc.Some services will be the same, but vary in frequency: cleanings, resupplying amenities, responding to inquiries, bookings, granting access, etc.

I would provide checkout instruction and checklist, offer a pre-move out inspection, and expect them out on the day that they indicated.  

(So there’s plenty left if you have to sell and pay off the loan while providing plenty of funds if the rehab goes over budget.Then you just figure out how much you want to make if anything.

Key was getting them to the table and providing us a list of todos. 

Hi Doug, Thank you for taking the time to thoroughly provide information, and the website 'Mortgage News Daily' is very helpful.

Most of the time, one lender can not provide ALL the good stuff.So yeah, this is helpful, was hunting for good lenders and brokers

Paid in "cash" using funds from a HELOC obtained on a previously rehabbed property.How did you add value to the deal?

I know it's a ton of information, but is there some sort of reference guide I can obtain that will guide me to the correct information I need to get started correctly so I don't get into legal trouble down the road?