Jersey City has more defined laws, basically you can STR if you owner occupy a unit. 

Nevada also offers some of the lowest property taxes nationwide.Sources:Homeowners insurance: National/state averages for $300K dwelling coverage with typical deductible.nerdwallet+1Property tax: State/local government averages and example calculations.makefloridayourhome+3https://www.nerdwallet.com/article/insurance/average-homeowners-insurance-costhttps://www.makefloridayourhome.com/florida/blog/property-tax-in-floridahttps://www.nerdwallet.com/insurance/homeowners/nevada-home-insurancehttps://worldpopulationreview.com/states/nevada/property-taxhttps://smartasset.com/taxes/nevada-property-tax-calculatorhttps://www.hometaxsolutions.com/2025/06/how-property-taxes-are-determined/https://www.nerdwallet.com/insurance/homeowners/florida-home-insurancehttps://www.bankrate.com/insurance/homeowners-insurance/states/https://www.axios.com/2025/08/26/home-insurance-premiums-cost-maphttps://matic.com/cost-of-homeowners-insurance-guide/https://www.moneygeek.com/insurance/homeowners/average-home-insurance-cost-calculator-texas/https://www.greatflorida.com/blog/2025/how-much-is-home-insurance-in-florida/https://www.kiplinger.com/taxes/floridians-vote-to-increase-property-tax-breakhttps://www.moneygeek.com/insurance/homeowners/average-cost-home-insurance-nevada/https://states.aarp.org/texas/texas-homeowners-insurance-rates-risehttps://www.texastribune.org/2025/06/04/texas-legislature-property-tax-cuts-2025/https://www.marketwatch.com/insurance-services/homeowners-insurance/average-home-insurance-cost/https://www.rocketmortgage.com/learn/property-taxes-by-statehttps://www.insurance.com/home-and-renters-insurance/home-insurance-basics/average-homeowners-insurance-rates-by-statehttps://belonghome.com/blog/property-taxes-by-state-2025I hope this helps.

Currently, still working with them in my next project. 

Basically it comes down to whether the work affects the structure, systems of the home or how the home looks. 

While I think your question is a good one...and interesting...the person/lender that decides to back a deal like that is basically going to be making up the rules for themselves.

I wish I had gotten into real estate during my pharmacy school years but instead waited until after I started working which basically meant I started investing in real estate in my 30s instead of my 20s.

What's the projected total net cash flow over say a 5 year investment horizon?

It won’t take as long as you think. if you can wholesale a few properties you can get enough to support you in a small project while learning the ins and outs.

Investment Info:Single-family residence renovation investment.Purchase price: $45,000Cash invested: $43,650Sale price: $135,000Contributors:Peter VekselmanPartner Driven partnered with Preston Moore on a renovation project in Guntersville, Alabama.

My wife manages construction/rehab projects and is an agent.