The persons mother just passed and the house she lived in has a reverse mortgage.

However, would entertain Roofstock if I didn't have these options. 

If you told me rent after rehab was $500, I would say hard pass.

You'd still have to pass your inspection and all that, but honestly like $1100-$1200 a month for a 3 bed really anywhere in greater Columbus is very conservative for rents and you'll get a ton of interest. 

I don't necessarily feel completely ready to jump into real-estate quite yet (based on my current knowledge), but I think this deal is too good to pass up (ready or not) and I think I would be capable of figuring things out on the fly. 

This is making me think I should pass on the deal, which is a bummer since the cashflow would be great.  

If tasks within a draw require a municipal inspection, then passing of the inspection should be required for that draw to be paid.Retainage / holdbacks are another consideration.

Perhaps the NC senate will soon pass one of the two house-approved bills that will take away STR regulatory abilities from cities and counties. 

I will be using a LLC when purchasing the property then have an Holding LLC as I will be thinking long term with multiple properties across various States.From what I currently understand is that an LLC is a pass through entity so that income will pass through the first LLC onto the Holding LLC where the account advises how it will be treated for taxes i.e a S corp, C corp or other. 

I wasn’t planning on going the commercial route, but for the location and the price, I didn’t want to pass it up.