Quote from @Johny Omaga: As a private lender, establishing clear communication and transparency with borrowers has been crucial in overcoming any funding challenges.

I had 1 PM in the past who was a big corporation in this market and they caused a lot more headaches than anything, so vetting your PM is crucial.

Comparing it to a 30-Year Loan is crucial, as it preserves capital but also takes on rate hikes.

They'll provide crucial information, including the total amount you need to reinvest.

., we track all the data per each fixed asset in Google Sheets and it's a part of our monthly/yearly processes to input the appropriate adjusting journal entries so the depreciation and amortization are reflected on the financial reports on a monthly basis for each fixed asset.We have a depreciation worksheet, an amortization worksheet, and another worksheet that details all other aspects of each fixed asset (placed in service date, type of property, partners, etc etc) per client.It's nothing fancy but it works for us.

If I'm wrong with respect to the legal aspects of this someone please correct me. 

You are transferring various liabilities, namely maintenance and operations aspects from you too a buyer. gaining some liquid capital (down payments), while retaining control of assets. 

If it says they don’t have to provide anything then that’s the agreementTypically agreements require at a minimum annual updatesThe good ones do monthly or quarterly depending on offering type So an update was provided - finally- but it still excluded crucial information the investors should have been updated about (in my opinion) considering there was a significant change made in the project that they are unaware of.

This update is crucial to ensure lenders recognize the increased value of my property, especially since I have equity in the home and am looking to refinance at an opportune time.Is it necessary to hire a licensed general contractor for this type of project?

This should have been communicated to you by the listing agent, as it’s a crucial part of the listing process.Ideally, the listing agent should have addressed this upfront during the listing appointment.