I would also send a formal USPS letter to the tenants alerting them of the change and how they will pay rent, report issues, etc., going forward.

In turn, that would be the last month she'd be paying rent. 

Are you planning to buy in Arlington or open to other cities?   

I've agreed not to pay him back for 5 years.I also own a few bed and breakfasts and million dollar STRs.

They are worth more, you attract better tenants who pay more rent and treat the properties better.We replace 3 or 4 driveways every year.

You'd need to look at how much this loan would cost you, how long it would take to recoup those costs...if you lock yourself in with a 5 year PPP and rates drop in 2 years, you're going to end up having to pay a hefty fee if rates drop and you decide to refinance.

They pulled the trigger on getting a house because they found themselves constantly paying for costly hotels when visiting and having to pay both of our rent.

The other was day after the sale.So that's the problem with a lot of the trainings....they'll tell you that you can make these huge % penalties, but they don't tell you that almost no one ever pays that.Also I'm guessing in lien states, many of the liens are pretty small initially, so have more potential to get paid off. 

The flip side is that I would not be paying that much in fees, because my intention is to flip the property and since I am not planning to build, I won’t have to deal with that many of the HOS’s rules.

I would do a HELOC, because if you don't want to take the money out you don't have to pay the interest, on a home equity Loan, the full amount is going to be advanced when the loan funds, and you will pay finance charges on the whole amount.We do investment loans on new construction, Typically we can do 60% of the land costs, and up to 100% of the vertical construction, not to exceed 85% of the Costs.Thanks,Dustin