As a Project Manager, when diving into a new initiative, I'd sit down with a project charter with our VP, and ask questions to gain a full understanding of the expectations of a project.

My initial reaction was that this was crazy.

Its layout and condition supported meaningful improvements, and the numbers initially indicated room to reposition the home competitively.

It answered every single one of my initial questions!!!!!

At high LTV this is likely to have negative initial cash flow.  

The goal is to stabilize rents and season the property for 9–12 months so the refi is based on stronger income and comps, ideally allowing you to pull out most or all of your initial capital and redeploy it into the next deal.

Who to hire / ballpark:• Real Estate savvy, Tax strategist/CPA for planning • Cost seg study (condo STR): fee depends on size/firm dependent• Estate plan (revocable trust package)• Hourly attorney (LLC/lease/risk)I would suggest start with a 60–90 min tax planning session to map the 12–24-mo plan, then loop in attorney and (if green-lit) cost seg.

I see many first time house hackers and investors lose momentum when their initial deal does not go as planned.

Cap rate is a tool for for an initial evaluation.

A 506b didn’t seem like a good fit because of the solicitation restrictions, which is why my thinking initially shifted toward Reg A.