This person and I have done a previous deal together but very different circumstances, so we have full trust in each other. 

No it shouldn't make a difference.

There is prequalification criteria and the programs have different requirements based on the prequalification responses.

@Cole Meier-Hollenback Managing an STR is very different than a LTR.

A friend of mine is good at walking people thru different investment strategies, especially around marketing and AI.

We walked it with a few different local contractors to get an idea on cost.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Another big difference. 

btw - if you have someone who wants to push out the move-in date, get a hold deposit - different than the security deposit - so that if they do back out, you can claim the hold money.

In one town of 1,300 houses I bought 109 properties from 108 different owners.