If I ever file a claim it will be obvious who the tenants are. 

It's not a bad idea to flip a house that you don't live in, while you continue to rent.Another option would be to use "house hacking" - buy the house with a standard or FHA mortgage, live there while you make improvements, and sell ASAP after completion.

I'd go ahead and offer without the POF unless that's completely uncustomary in your area. 

I'm a complete newbie to real estate investing but I have several different strategies I want to learn about.

Hi Dorothea,We are a licensed General Contractor in the Atlanta area with over 20 years experience of building quality homes and completing several rehab projects in Atlanta and surrounding counties.I look forward to hearing from you soon.ThanksRobert

So  now I am looking for a reliable and honest contractor to complete these projects.

I'm not completely sure but I believe if you open an LLC, which would have no prior income, the lender would look at your personal income statement.

Yes if your money is tied up or you want to increase volume it is completely valid to need hard money. 

Also be aware that repairs must be completed by a contractor.  

Just completed the first module can't wait to get to the others tomorrow and Grace