What solutions do you propose?

I completely agree with having an extra insurance/bonding company (usually paid by the contractor if required by owner -- contractor will include that cost in proposal) for major work. 

We are considering a proposal to renovate the house ourselves while we live in it - we would cover construction costs, nothing out of his pocket, while we continued paying rent.

(Lakewood for instance has been considering a proposal that would limit Airbnbs to your primary residence.)If you've already got a place in one of these cities, great, keep squeezing out STR money while you can.

All that aside, take your actual gross rent less expenses and proposed mortgage payment based on $520k purchase (if you're not paying all cash) and figure out your NOI. 

A proposed compromise may be to create a paved walk in front of the building with a paved spot to make the building wheelchair accessible, wheel leaving the majority of the area unpaved due to storm water concerns.

There are also linkage fees that may apply and can be as much as $15 per proposed square feet.

https://www.wdrb.com/community...Lots of things happening in Hardin County between this and the huge Ford investment. 

Getting your first rehab project will require you to create a SOW, talk to contractors, compare and review bid proposals, review budgets, & make countless trips to Home Depot.​You will inevitably make mistakes and underestimate things, but you will learn 90% of what you know by just doing your first rehab!

I have made a proposal to my mother to purchase her commercial property.The Seller-Financed Deal: Downpayment of $112K (this will pay off all her debts and give her a couple thousand to have in the bank)Monthly payment of $1500 (this plus her Social Security income is enough to cover her monthly bills)Purchase price of $500K (balance due when I sell, when 10 years is up, or when my Mom passes...whichever comes first)My Question: I have been researching using my rental properties for a home equity loan or for a cash out refinance for the purpose of pulling together this down payment.