I got a letter and it just didn't seem professional in that there were grammar errors, etc. so it made me leery. 

Fast forward to the end of the deal and we have been trying to get  payoff letter for weeks to no avail.

We repeatedly explained that it’s not done that way in New York State: here, you send in your articles of organization to a state office and they send back a letter with a state seal acknowledging they received the documents.

Make sure you ask them good questions, make sure they carry insurance and that they are available year round. 

So sad...... what is scary too is they only have them 10-20% contained and they are expected to get high winds again which can carry those embers pretty far. you also have to think these fire fighters etc. have been working around the clock and must be exhausted.

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

I KNOW I am not up to Accredited.It seems to me to be "backwards" thinking that there is LESS risk to a 'novice' in a FUND since the risk is spread out over many Notes and professionally managed, whereas an Individual Note seems like it would carry WAY more risk, especially picking the 'right one' for your investing goals, budget, etc...? 

Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property. 

You may also be able to start sending letters to duplex owners explaining who you are and that you want to own and live in a duplex, etc.