FHA needs 75% of the rent to cover the mortgage. 

I’ve discussed with my lender the option of a 203k loan but my question for you is does this loan only cover renovations to update an property to FHA guidelines or can it be used for any renovation to the property such as additions?

After speaking with the sisters, I decided my best course of action would be to screen two other women who the sisters said would like to replace the couple on the lease.

Just so you know though this one has a 1.5% commission so you will be responsible for paying the other 1.5% at closing to cover the difference"Buyer: "Never mind, lets go look at that other one on Elm Hallow"As far as using a flat fee service they really just send you a form to fill out with your sq footage, number of rooms, dimensions of rooms, taxes, a contract for listing.

Also, from May-Aug. we paid a total of $4,000 in holding cost to cover the HELOC payment.

Short term Loan ARV would be my suggestion you could get up to 90% of the Costs covered then refi out once the work is done in a year...but make sure to improve your credit in the meantime 

Some resources I recommend ( with 10 hrs of flying you may have covered these episodes:)PodcastsEpisode 108 - Grant Cardone...

For the lease, you'll need to be sure to get one that covers Oklahoma laws. 

If they are all equally qualified (areas covered, knowledge about investing, etc) I'd tell them all that I'd decide with a series of coin flips and I'd tell them that you're doing that to avoid damaging the relationship that you value so much.It's a hard situation, but if you're upfront with everybody, you should minimize the chances of hurting your friends.  

My end goal is to have a passive income stream that will, one day, become big enough to where it can cover my expenses entirely.