@Peter Vuong A lot of cities and Towns are trying to do this.See the Boston Globe RE article 11/22/15 of how regulation has strangled new housing.

I do like how explicit their forms are, but I can probably delete a quarter of it as not applicable.By the time we have the lease, the non-standard addendum (so they shovel snow and mow the lawn), the rules and regulations, and the lead paint disclosure, that's too many pages!

Personally my interest is in cashflow and when you look out east you can find homes that sell for similar values to out of state and have greater rent to taxes ratios than most sfr's in central suffolk and nassau.This is strictly my view from running some numbers as I explore options. 

Unfortunately, there is no industry standard for how rebuilding estimates are determined and companies are not regulated to a single style.  

We've done rehabs in the county that do no require permits, but I've seen that the city is a little more strict. 

@Bill E. speaking strictly in terms of cash flow I would say that you could find a place to house hack in that area with better numbers.

Although I've learned a lot through the process so far, I don't necessarily know if getting a license is the best idea if you are strictly getting it for investment purposes only.  

Meaning - in my experience the amoount of CCR required to drive the IRR strictly though cash flow is not likely to materialize due to economic losses.

For some of the exemptions, such as Rule 506 of Regulation D, a company may sell its securities to what are known as accredited investors.

We had strict guidelines on what we wanted and how much work we were willing to put in before being rentable.