In addition, if the PM does not have the means to do a quick tenant flip, what confidence do you have that they will properly vet the tenant?

What do you mean by the additional $18/sq design fee was not included? 

Additionally, we have family in Ohio and have been looking to get a place up there to spend summers near family.

I won't take this on I wanted to build some relationships in addition to seeing if anyone would be interested in a portfolio this size.

Yes, it does not look like Pierce County has any additional legislation other than the state unless I'm missing it.

But if I did that with a hard money loan, then I'd have to get an additional loan and pay for additional loan fees vs already just being in a 30 year mortgage.Given that my projects are under a year, the years worth of interest is far less than the traditional 10-11% flat interest I'm paying with a HML.I don't need the money to fund the renovations.

Additional Considerations: Social Security Number/ITIN:Since most international tenants and students don't have a U.S.

RBP is an additional $40-50 fee a month on top of their reg rent.

If I’m able to secure a property in the $60,000 to $65,000 range, coupled with an additional $10,000 in renovation costs, I believe this will positively affect my cash flow. 

DSCR rural properties are even more difficult because you are adding an additional layer of risk by reducing the amount of income documentation for ATR (ability to repay) which further poses risk to the bank.