Typically the first set of tenants I screen are the ones who end up in the unit due to prescreening activities like my application and making sure I meet them.

Most investors have rose-colored-glasses when it comes to their neighborhood quality.

Some carriers don't ask but you should make sure that you're not indicating (in the policy application that is typically e-signed) that you aren't using your property for student housing if you are.  

Issues 1) even garage conversion ADUs in single family zoned areas typically cost more to build than the value that they add.  

So, a house that would typically cost $100 per sq. ft. to build 5 years ago, is now costing $200 per sq. ft. 

Yes, when there are multiple adult occupants, you would typically combine their gross incomes to determine if they meet the income criteria.

Adding a 1/2 bath, new roof, central air or other typical improvements will increase the value of the property. 

It'll be easier to start with a turn-key property, but if you have a good contracting team, a value add will typically offer better returns. 

typically no special license is needed when doing it for hard money loans that I am aware of. there may be states like california and nevada that are tricky where lenders need a license of some sort but for most part brokers i have seen are not licensed. 14 or 15 states require state license and NMLS registration.

@Kris Lou Be careful with agents as 95%+ of them really only know how to handle owner-occupied transactions.We don't do biz in Indianapolis, so this is unbiased info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?