Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

Me personally, I would save up a little bit more to at least 30K.

There are several popular programs out there, but personally I like Baselane because it's specifically for real estate investors so all your transactions will fit into the Schedule E you're going to need at tax time.

One person's unique could be my ordinary, and vice versa. 

In person, phone, email.

A Debt Service Coverage Ratio (DSCR) loan for investment properties is often considered better than a traditional mortgage for several reasons such as: it focuses on the property's income rather than your personal income.

@Jake Mercer would be a good person to reach out to and so would be @Fakaradin Floyd.

CGL coverage will cover property damage, personal injury and  bodily injury but not many other issues that often arise, particularly during construction. 

Anyway, just something to think about.At the end of the day you are personally responsible for the success or failure of your business so you need to decide how you want to run it.

The program could take a while depending on your own personal journey but it depends on how much money you have saved, how much debt you are in, what your credit is like and how consistent you are with payments etc.