The main one is that I’d have to hire contractors for all the work so I’m not sure if I was thinking I may not come out ahead.  

@Steven Harris that is a hard sell but with $30K in savings as collateral you may be able to go to a private lender; however, you are going to have to add a member to your LLC or Corp with a job ; especially since you are new and can not produce a schedule of real estate owned.Most private lenders that I know or have worked with say that the asset is the main pull as far as credit during analyzing the deal; therefor, you have to have a strong deal that makes you money and able to communicate how you are going effectively monetize the project, in the form of an executive summary.I remember at one time some lenders were doing 80/100, 80%LTV and 100% rehab, I do not know if they are still doing that, I will have to reach out to some of them to see their parameters these days.

They mainly looking at how much rent am I collecting to pay the mortgage (Debt Service Coverage Ratio).  

Depends on your situation which would work out best.On the selling side, again you have two main options, list for $1M with a listing commission % (of whatever you choose) and still offer selling agent commission as standard for your area, or option 2, list with no list commission and lower your price by the commission amount it would have been to attract more buyers at a "lower list price".I have done both and it was all situation dependent.

And again at the risk of sounding naive & being real honest here... we know nothing about building, seemingly, it wouldn't be too ridiculously expensive to build say a rectangular 1500 ft² house on a slab where all you really had was an open kitchen to living room and then on either end of that a master with a bathroom other end 2 bedrooms with a bathroom in between.The main thing which, I know is probably the most cost (and this is going from an amazing airbnb I stayed in with girlfriends called the skyhouse, which I zillowed by the way worth $650000 our budget only about $350 K)We want both sides of the big main room (kitchen & living room) to have  Florida ceiling collapsible windows so that you can have a complete open field in the good weather.A pool would be amazing but can come later.HELP???

The thing I have found is that the buyer client focuses mainly on "lowest rate"...sometimes, they choose a large national lender that advertises on TV, or through their work (military), or some other outlet touting "best in customer service, etc"...In my experience, the large national lenders often slow down the purchase process, or get to a few days before closing and decide that "no, they don't intend to finance the loan because buyer has xyz in their history".  

He was the main financial provider and is equally responsible."

The main goal right now is to get started, cashflow and long term wealth of course. 

BP Community,I am getting ready to list my first ever property for rent and am wondering what the main do's/dont's are that people have found out through trial and error for finding tenants.Any good services out there that you have used to check credit/background of applicants?

As I mentioned above, I'm keeping an open mind on location, quality over quantity and class in my MF search, mainly because I don't want to do major rehabs and bring up rents slowly etc.