***here's the question*** Sooo, in my situation if I were to try to do most of the rehab myself(not very e-myth'ish of me...but for more of the hands on "experience") knowing it will take extra time, in your opinion is the 70% rule safe for $150-225k priced SFR(assuming it's a good property) for a live in flip,  in a possible plateau'ing (or worse) market?     

It’s legal, and doesn’t leave residue or smell like cigarettes.

@Carolina E.

2571 E Montlake Pl E, Seattle, WA 98112https://www.zillow.com/homedetails/2571-E-Montlake-Pl-E-Seattle-WA-98112/49101802_zpid/

@Josh E.

In this case, I guess AirBnB or VRBO and they will wire the money to the owner directly.If anything happens to the property, who will come to the site and deal with the issue.If something breaks, who will be responsible for the damage.For taxation, it sounds like your investors file Schedule E for their tax returns.

After entering the house at the request of the tenants for some basic maintenance I find cigarette ash trays, hookah pipes and water bongs. 

@Christian E Ball - When you are in a tight market, you need to get creative with your marketing to potential sellers. 

Take a look at Schedule E of the tax return. 

If your strategy is to re-zone the parcel and change its use to higher density usage than you may have needed to demo the home.