Private and Hard Money Lender Rehab Draw Requirements.

[Felicia Walker]

I'm getting back into the investing game after focusing only on my W-2 for a good many years. Back in 06-09, I was a realtor, landlord, and flipper, but so much has changed since then. For "fix and flip" deals, I've been discussing the "draw system" with various lenders and they seem to all have different (but yet similar) systems. Is there a standard, good, or bad system out there? Some require me as the investor to start the process with my own funds and others provide 20% up-front. Some require an inspector to check the work each time, with me as the investor paying for those inspections each time. What is a reasonable system/protocol for using this time of financing?

Felicia