I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.

But it might be a good idea to raise rates each year or so by $50 to $100 because it can communicate that you aren't completely checked out, and you value your property, your time, your investment.

Quote from @Stepan Hedz: That’s a solid list, and I completely agree that these types of real estate investments can be risky for those without direct experience or proper guidance.

If you did, you could take advantage of some unique strategies, like renting it out while traveling (as long as it’s for 14 days or less) and having that rental income be completely non-taxable.

But most of these bridge loans have future funding components where the lender will fund renovation work as the work is completed and add that to the loan balance. 

They allow you to include up to 6 months of rent payments in the loan if you are unable to occupy the premises during the renovation.Just to be complete, it's also worth mentioning that both the VA and USDA have renovation loans.

Completing the setup will likely lead to smoother operations and peace of mind in the long run.

If someone has been assigned, why would it take more than 2 months for them to complete the return?

The issue I had was that most lenders required a certain number of completed flips done under a LLC.

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