Yes you can use either FHA or Conventional for 3.5% or 5% down respectively. 

one of the risks of working with private money/non QM loans- they decide the terms in almost every respect.

Your mirror idea maybe the way to go, sorry I couldn't be more helpful.Alan, no "direct" dis-respect intended, as you may be a great guy, but ... in this discussion and topic ... you have no idea of what you are talking about!

Very respectfully, Kaitlyn Beard, REALTOR // Abilene, Texas

I know a realtor that I respect and feel will help guide me but I am hesitating to sign as I have already started communications with several new build sites. 

It isn't the same as us telling folks where to rent a boat.I respect that position, but it depends on your priorities and financial goals. 

The general advice would be that if you're personally worth less than $1M and if you have $1M liability policy on each asset and you have an LLC in your respective state and you're making sure the "veil" is not being pierced then its NOT necessary to pay for the type of service Anderson is selling. 

Be genuine, respectful, and open to learning from others' experiences.By actively networking and engaging with the real estate community in your area, you'll have the opportunity to learn, grow, and build valuable relationships that can support you in your real estate investing journey.

This might strain the schedule for your project.Risk: Significant financial losses, including the possibility of losing your property in the event that you fail on the loan, might arise from a repair and flip project gone awry.Due Diligence: To make sure a hard money lender is respectable and reliable, it is crucial to carry out extensive research and due diligence before selecting one.Before proceeding with a hard money lender, consider your financial situation, risk tolerance, and investment goals carefully.

I saw there was a new House Bill that came through last year (2023), and added a new subsection to RCW 59.18.280 which does mention RCW 59.18.260 about the checklist requirement for the security deposit:(4) The requirements with respect to checklists and documentation that are set forth in RCW59.18.260 and this section do not apply to situations in which part or all of a security deposit is withheld by the landlord for reasons unrelated to damages to the premises, fixtures, equipment, appliances, and furnishings, such as for rent or other charges owing.This is the new "exception" (per the title of the RCW59.18.280).