Red Flag #1 - Positioning: He doesn't mention anything about pricing or what his protege program is until you sign up for it, that in itself is a red flag, but the most important red flag here is the position you are put in when you sign up.

I'd start by talking to a few realtors to see how much extra you'd get with the renos vs the cost.

If you collect the 10K from the renter will you reimburse that 10K to the insurance company?

Quote from @Ray Watkins: What is the best way to finance a newly built, entirely new home on a property?  

Again though, as a CPA I let the attorneys work with clients and determine what is best as the DIY options might leave you with a void that renders the LLC (or any entity for that matter) set up ineffective and useless.

@Samantha Stephens my experience is the property is only available for those will OO to bid on during this period.

If you can lever up 4x to 5x on a $2M property that doubles in value every 10-12 years, who cares about landlord-tenant laws?

I allow fish tanks up to 20 gallons and charge $30 a month.

@Toby FellowsGet an attorney and have them complete the process for you would be my recommendation.While it is something you could do, I always recommend spending a few hundred bucks to make sure it’s done and done properly

Funny how, as the years roll by, there’s been a major shift in my approach.