I have heard it used different ways.I have used a version of gap funding where the hard money lender funds 85% of the flip (purchase + renovation) and the gap funder funds 10% of the deal.

My other SFR notes have interest rates determined by the borrower's cash, credit score and income - so market rates or higher.I understand the difference in performing vs non-performing notes and that performing can become non-performing pretty easily. 

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

So now I have a whole different issue to deal with.

This will give you some info so they are not guessing on what will be needed (they probably already know rough numbers, but each project is different).

I currently own 4 rentals in different states and looking to buy more.

One foyer entry and then two different doors after that which I labeled 100 and 101. 

That is a different RAD Diversified.

As I tell all landlords, New Jersey is a different animal than any other state. 

Keep in mind we are a "Mega PM", big staff big unit count, so it's a lot different then the Ma & Pa, but the principles can apply.