However, if the seller is not open to that, the best lenders to approach for smaller deals will be local or regional banks, or credit unions.

@Wendy Williams yeah, that’s the conservative approach and there’s nothing wrong with that if it aligns with your personal goals and sitaution. 

The Extensive rehab inclusive of an ADU addition would be about 90K for a 2bed/2bath unit (1500 month rent) with a 1bed/1bath unit (800$ month rent).  450$ a month in cash flow more background: I live and operate in a small rural market doing most of work on my own rehabs, kinda the one project at a time approach. 

If you have NOT been sued, then you can only hope that your no-LLC approach is good enough.To clarify, I'm neither for nor against LLCs.

In a related story, this is probably close to what happened in the Miami building collapse.

If not, I’d approach her with seller financing.  0 money down with infinite returns so there’s no cash in the property.

Doing away with a pool is an expensive proposition and in many cases could approach $10k.

Then I was approached by an agent who pitched the strategy of purchasing a new build town home and renting it out by the room.

In theory this gives me the deepest conversation first with the seller on the rehab costs, permit issues, major items etc, to be in a position to negotiate an appropriate price.Down sides is....I would spend a lot of time and money on inspections on homes that may not close and my realtor is writing lots of contracts.Up side...I get first right of refusal and a strategic advantage in a competitive market.Is this approach legal? 

The motivation behind my median approach is a statement by Warren Buffet that goes:“Be greedy when others are fearful, be fearful when others are greedy”.This being said, I am still making offers and looking for good deals.