That way the lender has an idea what it is you are doing and cost.

Hard money typically refers to a company that has it's own underwriting guidelines, rates (9% - 15%), costs, draw process ect.

The seller offered financing with 20% down, which I used to buy the place.After starting construction and realizing it was going to cost more than expected, I approached a small local bank that knew the property and would offer the rehab financing. 

Also you should inquire with insurance agents about the cost to insure.

Sometimes the closing costs from the auction are HIGHER than expected.

Pretty easy to get a $6,000 to $10,000+ sewer dig up and replace cost if it's a perfect wide-open area.

Which is a tax when you do an active business in your IRA but it is essentially the same thing. 

The founder appears to have been involved in businesses outside of real estate: ‘My dream is a locally made grooming products business’ | People | nashvillepost.comSo it does not appear there is a lot of track record there, but those are questions I would ask.

I am no way affiliated or benefit from these referrals, just like to pass along good business!    

Sights are set on all types of REI, but this will be a great start for us.I have been in the mortgage business for over 20 years.