We are more than willing to travel out there to interview the potential companies in person, but, like I said, we are not interested in managing these properties ourselves and are looking for suggestions of potential PM's.

Furnishing it with a theme What was the outcome?

Given your situation, here are some considerations and potential steps:If you plan to convert your current residence into a single-family rental (SFR), you may want to explore refinancing options.

Is he being overly cautious or is this something that could potentially alert the lender?

Could be a nice AirBNB studio with income potential up to $1500/mo by itself.

Make sure potential builders sign a non-disclosure agreement (NDA) before showing them your plans.

When screening potential tenants, be sure to check for credit history, rental history, and ask for references from previous landlords or roommates.

We got a reply pretty quick & brought the potential tenants over and let them check out the house.

They can provide insights into tax implications, specific filing requirements, and potential deductions.General advice?

In fact you seemt to be on track to have a new opportunity and partner potentially.