Depending on your desired investment return and path, you can then structure your deal.

If you want me to drive to you; provide consultation, lay outs, code requirements etc, then I charge for that.

Your true test will be how well can you handle the day to day as well as the major operational requirements of the arbitrage business as you scale.

Plus you need to check and see if they require you to use them as management.

This would require a land use attorney as every jurisdiction is very different.

If your next projects require rehab, you could use a fix and flip loan initially and then refinance them into a long term loan (BRRRR strategy).

There are requirements in the middle here that have nothing to do with the estate and are controlled by the lender as @Lynn McGeein said.

To locate properties that meet your requirements, make connections with wholesalers, other investors, and real estate brokers.When investing in real estate, especially if you want to keep the properties as long-term rentals, positive cash flow is crucial.

I have a home that is an STR in a highly desirable tourist destination.  

Will you have enough equity in a couple of years if rates go down in order to meet the LTV requirements of the new lender?