Is it the repair is to fix the it and make it functioning, and replacement is to improve and add more value to it? 

The property cash flows well and has enough equity.There are more than 1 lender who can do 2nd liens compare quotes.

I have read similar stories here about this group and others. 

Also curious how others navigate our short term rental laws (seems like many property owners are advertising for periods shorter than the 14 day minimum) Also curious if many owners are actually paying hotel taxes to the county or waiting for more clarity on the law

All that to say, PMLs are usually more concerned with the value of the property and will lend at a lower LTV regardless of ATR (ability to repay) because they know they can take the house for 65 or 70% of the value if you default in a worst case scenario.Hope this helps!

just make sure to list it multiple times that it is a room for rent, some people are very bad at reading lol.

If you bone the offer and then try to claw back in inspections or renegotiate, you won't be seeing any more deals.On true dumps, I bring my team with me to the viewing and do as much due diligence as possible before even making an offer.

We are hoping to learn about flipping homes, and doing much more multi-family long-term investing!

I currently have an experienced real estate accountant who is looking to pick up more hours.

ARV would probably put the sale around $450-500 depending on a few factors (can any of the basement be finished out to make more sq footage etc).