Usually on DSCR loans, lenders will provide a preliminary cost breakdown but we usually can't pick the pencil back up and finalize terms until the appraisal report is in hand and expenses (tax/insurance/HOA figures) are finalized.

Am I stuck just waiting to see if he finally responds and pays by 09/01?

Also, when you receive the final ALTA, make sure the seller credits you the security deposits he received when those tenants moved in. 

It's a major project, and finally nearing the finish line!

Results: The final numbers – purchase price, rehab costs, sale price, profit, etc.Key Takeaways: What did you learn, and what tips would you give to others?

You will likely have to hire/fire a few times over before finding your final hire.

Once I got 7 or 8 properties I finally got a separate business account to make it easier to keep track of.

Finally, **transparency and trust** are vital; a lender who is upfront about all costs and willing to work through challenges builds long-term relationships with investors.

Several recent transactions closed at 5%+ lower than the final asking price. 

Recency bias gives greater importance to the most recent event, such as the final lawyer's closing argument a jury hears before being dismissed to deliberate.In 2021 and 2022, recency fallacy told us "keep buying short term rentals, because they have been going up and will continue to do so.