You also have options like 30 Year Fixed, 30 Year 5/6ARM, 40 Year and Interest only (maximizes cash flow).You are essentially acting as your own bank by using the equity and selecting the best rate/term to benefit cash flow.

These procedures can assist you in learning from experienced investors, identifying possible partners or contractors, and making sound investment selections.

Originally posted by @Carlos Ptriawan:Yosef how do you select the property manager ?

A few months later Realtor A is selected to list the lots for the Developer.  

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I assume we wouldn't want to use one of our three selection properties on a property that could sell to someone else soon once the 180 days begins.What if I get a property under contract and the 180 day closing window begins, then the seller backs out?

The properties will be selected from their rental registry list.

In the case you selected that text from, the existing unit does not meet the setback requirements of another section.  

Originally posted by @Art Campos:@Frank Patalano I’m new to this.

There is a significant art to this, and that is why one won't find any standard template for doing such, because each original home style/design best lends itself to different layout potentials.