Especially in two different states. 

Here is a different example.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Two different professions.  

In addition, being on a hillside in SoCal, it is critical to determine the makeup of the hillside sub-surface conditions as this will make the difference between a 150k foundation and a 500k foundation.

I'd also suggest running some for-rent ads, to see what type of response you get.It's notoriously difficult to accurately predict ARV on these types of properties, because they're so niche, and the market for them is usually completely different than the market for more standard properties...For instance, a lot of lenders won't provide a mortgage on a property for less than $100k--and if that's the case in your area, that would mean that the only potential buyers for the property are cash buyers, which makes selling the property more difficult.  

This is different from not providing the website.12.

Also, since there is a huge gap in the industry in teaching people how to understand development and the different options we've launched an education arm to help bridge that gap so it's not just the "big guys" with deep pockets that can be a developer.

The net maybe unch due to the varying differences at both.

Definitely slow down and get a handle on the hidden costs and benefits in a few different options.