It's interesting what people will do in acts of desparation.In my experience, lenders (specifically private lenders) will do what they can to work with a borrower to avoid foreclosure, which is a costly endeavor for the lender and requires time to process, usually months and months, depending on your state.Also, while an LLC is often considered a safeguard to protect personal assets, a lender using an LLC for multiple loans may have a substantial value to their LLC, which could all be at risk.Finally, if the wrongful foreclosure suit is legitimate and based on an error by the lender themselves, an attorney could logically sue both the LLC and the individual.

I’ve spoken to other investors in the area and I am aware of the average nightly prices for similar rentals based on the seasons.

It's an asset based loan so most all the requirements will be dependent on the rent covering the debt so if you have cash but no stream of income it'll be the way to go.

Hi,I'm based in London (UK) and excited to start my learning journey.I'mwondering if there are any London meetups or Zooms that I couldparticipate in?

Based on my calculations, this would lead to cashflows around $700 per month.I am now looking more into FHA loans and wondering if that would be a better idea since I can only use this on my first property.

I'm based up in Greenville.

@Jonathan Angulo I am based in San Jose as well.

Here is the excerpt from the IRS I am basing my answer off of. 

We are based in NY, mainly looking to invest in the Hudson Valley area.

It sounds like you have spoken with an architect but it's not really clear to me what you believe you can build or renovate by right based on the current zoning and existing structure.