It’s crucial to negotiate terms that benefit both parties, involve a trusted attorney and title company, and conduct thorough inspections and market research to ensure a solid deal.Good luck!

However, it’s important to ensure the area is safe. in those areas I would recommend checking local crime statistics on SpotCrime. you can use this link for an example,to get detailed information: https://spotcrime.com/map?

Start small, build your confidence, and scale up as you gain experience to ensure financial stability and long-term success.Good luck!

I would like to pass on a little bit of useful information for anybody thinking of converting their permit over to owner-builder. 1 - You will not be able to sell the property for a minimum of 365 days from the date of issuing of the CO. 2 - The property must be for the owner's own use and occupancy and not for sale or lease which means you will not be able to rent it out. 3 - The owner-builder must ensure that all employees working on the project have the required licenses.4 - The owner-builder must provide worker's compensation as required by Florida law.5 - To apply for the owner builder permit, you must physical visit the building department.There are others requirements and conditions, however these are the main items.

Because the last inspection passed everything the 1st time except the fact that he had clothes were on his living room couch thus inspection was rescheduled to ensure tenant cleanliness. 

Totally not efficient, but its something we may have to do.

Your attorney or CPA should be able to create tax efficient structure for you.To avoid this, keep management and decision-making localized to Alabama, and consult a CPA or attorney to ensure compliance with both states' regulations.This post does not create a CPA-Client relationship.

What rights do we have to ensure the 11 month warranty repairs that were missed, are paid for by the tenant ?

Speed and cost/tax-efficiency are usually mutually exclusive.  

Issue a 1099-INT for interest paid over $10 annually, and ensure family members report the income.