Let's break things down, hopefully, I am understanding everything correctly...Exit Strategy 1: Full Rehab and Rent IncreasePros:Higher ARV (After Repair Value): This strategy could potentially increase the property's value to $126,000, allowing for a higher cash-out refinance amount.Higher Rent: After the completion of the Scope of Work (SOW), the rent could be raised to $1,000, generating more monthly revenue.Long-Term Value: Completing a full rehab could increase the property's long-term value and appeal, making it more competitive in the market.Cons:Higher Initial Investment: The SOW budget is significantly higher at $15,750, requiring more cash upfront.Vacancy Risk: Asking the current renters to vacate for the rehab introduces the risk of vacancy and lost rental income during the renovation period.Longer Timeline: The rehab process and finding new tenants could extend the timeline before the property starts generating its anticipated cash flow.Exit Strategy 2: Minimal Repairs and Keeping Current RentersPros:Lower Initial Investment: With a SOW budget of just $2,500, this strategy requires less cash upfront.Quicker Turnaround: Completing minimal repairs and keeping the current tenants can significantly shorten the timeline to start generating cash flow.Reduced Vacancy Risk: By allowing the current tenants to stay, the property continues to generate income, avoiding the risks associated with vacancy.Cons:Lower ARV: This strategy results in a lower ARV of $110,000, which affects the cash-out refinance amount.Lower Rent Increase: The rent increase to $900 is less than what could be achieved with a full rehab.Future Repair Costs: Minimal repairs might not address all the property's needs, potentially leading to higher maintenance costs down the line.Financial Analysis:Cash Flow Considerations: Both strategies provide positive cash flow before reserves, with Strategy 1 generating $160 and Strategy 2 generating $148 monthly.

It was easy to live with a fear mindset in times like these but I trusted the process and am excited to be entering the multifamily, MHP, and commercial world!

How much is the whole process normally cost?

They will follow the legal process to obtain title or the owner will need to pay fees to get it out of impound.

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

Does anyone have a process they go through to check demand for traveling medical professionals?

"Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:A transfer of the property (or, if the borrower is an inter vivos revocable trust, a transfer of a beneficial interest in the trust) to a limited liability company (LLC), provided that the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence)."

Let's collaborate to make this process smooth a nd enjoyable.

I'm not saying expect to leave 100k in but I think a lot of people are dishonest when it comes to how much they leave in, to make their process seem superior. 

Also, you just earned a $50,000 education in Self Storage with little risk.8.