If the house has a septic system, especially if it's an older one, it's worth the investment to have a septic inspection done.This concern is particularly relevant for those planning to buy and hold the property rather than simply fix and sell it.

A boutique hotel is a great investment, assuming your plan is the turn it into a STR hotel as well.

Sounds like a great plan. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

The house is offered to the buyer at the ARV price, and we explain how we plan to rehab the property and its worth after repairs (ARV).The end buyer has to make a commitment of at least 10% of the ARV, provide proof of funds, and other documents required to list the property on our website.

Only thing that has happened is that remaining tenant is paying both portions so there is no eviction.I'd speak to the remaining tenant and find out what happened and what is the plan moving forward.

I'm always surprised how expensive Portsmouth is by comparison.May I ask how much you plan to DIY the property management? 

HELOCs let you access equity as needed, keeping costs low unless you use the funds.Key considerations: If you plan to scale quickly, the HELOC might provide the liquidity you need for faster moves.

I also ask if they've ever been evicted, refused to pay rent, or filed for bankruptcy.Further, I ask account numbers for their checking and savings accounts, and the approximate balances in each.

--> This is my plan.