During the renovation phase, adhere strictly to the scope of work and budget, conducting regular walkthroughs to monitor progress and ensure quality.As the project nears completion, prepare for sale by staging the property to highlight its best features and create buyer appeal.

@Richard Benjamin Wilhite, @Bill B.makes some good points about loan terms and the strict identification rules for a 1031 exchange.I would add from a tax mitigation perspective that buying the largest property possible will give you the greatest amount of cost segregation possibility and at the lowest cost since it would be one study rather than several. 

I am working with a nonprofit organization that will be using this home for a program that is geared strictly to homeless veterans to find them suitable housing and assistance with finding jobs.

The lending is strict but the terms are great.

For instance, FHA guidelines are very strict and restrictive when it comes to using departing-residence rental income to qualify for a new FHA loan (such as the 100-mile rule).

As you may be aware, the City of Asheville (about 2/3 of Asheville is in city limits; the rest is under county jurisdiction) has had strict STR regulations in place since 2016.

Yes, because Private Money infers that you are in a negotiable deal where your project can be outside the box and you can negotiate unique terms with a private individual - that - or a big box lender with strict rules and guidelines. 

Co-ops have strict subletting rules that can change anytime, which could make things tricky.

Also there is strict no refund policy, even from your wallet.

Would you avoid investing in strictly a cash-flow market?