I could see this being useful in a BRRRR scenario, but in that case you could be looking at a much longer term loan than 30-60 days, especially given supply chain issues and the uncertainty of the person being able to qualify for the cash out loan as rates continue to climb.

In their group it seems that life does not exist beyond preforeclosures.  

He’s probably going to end up going to a trade school, get a real estate license, work with a local contractor to become a building contractor.What are your thoughts about buying a property early in your life?

DTIs do not apply, not tax return / personal income eval

Personally, if you have to wait 3 months anyways, it seems like a good idea to take on a project that takes 3 months to maximize returns.

But it comes down to if you want to personally get down and dirty to learn the work or if you want to delegate to a third party. 

Current CPA says you can form an LLC and take any losses as a K1 loss on your personal taxes. 

Another issue is these homes have standard 15-30 year loans in my personal name ..... so that is another issue ! 

This is one of the main guidelines as it promotes safety and quality of life for ADU residents.

Personally, I'd like to see the return of more streamlined processes with the lenders (at least more so than they are now!).