Is refinancing not an option in your mind because of the high pre-payment penalty?

Fees seem high but could potentially be worth it.

I've walked their properties in-person, and their build quality is good.

Looking at this past week's CMI, it's interesting to see the buyer/seller positioning in the SE-ish area compared to the NW-ish area with rates high 6's in JanuaryStill bullish on W/NW future demand due to TSMC factory and other companies (dashboard snapshot below) but time will tell.

I know that this is a big risk property but I believe that it has the potential for high return if I can get all of this permitting and renovation work figured out on the front end.I'm just looking for any advice on how to cover myself on the front end prior to making an offer and how to expedite the work so that I can get renters in and start recouping on the investment as soon as possible.

Seems like everyone wants to wholesale here - The competition is really high - I dont really wholesale unless it makes sense for everyone but my advice would be to try and hit the lists that arent already super flooded ( pre foreclosure, vacant, etc.) 

Many of my clients are high W2 earners who are taking advantage of the "STR loophole." 

Where I have seen "open concept on the way out" is in the very high end properties.  

The house includes high-end upgrades such as custom cabinetry, granite countertops and energy efficient appliances.

This was a highly successful transaction.