I would however have them sign a cleaning addenda that outlines what they can expect during their move-out inspection and what the associated fees will be. 

When you call these buyers your conversation should be asking what kind of hotels/investments they look for ...and then in broad terms outline your deal. 

Do not leave anything open for interpretation and be as clear as you can be about all finishes, payment and deadlines• Have contracts in place outlining the scope, payment process and deadlinesDoing these things will help with your project and you will have less headaches during the rehab process. 

Concept or idea 2.draft a business plan (this can be simple 1 page outline) 3.set up the entity and tax ID 4. open bank account 5. take action on the plan.

But in all seriousness, we are getting a lot of frustrated calls from folks looking to change for the issues outlined above.

Using the solutions that you've outlined I think it's best to create a system for each and execute it, tweaking it as needed. 

I will outline the situation below and please let me know your thoughts!!

(I'm not an attorney, consult yours)The first would be the promissory note, that outlines the terms of the loan, and the second would be a properly recorded mortgage, which defines what collateral can be claimed in the event of default, and the related process for making that claim.As @Robert Kinsey mentioned, 5% would be a bit low for me as a lender, but I'd be very happy to pay it as a borrower.

Can anyone recommend a local lender or help outline some steps involved in this process?

Can anyone recommend a local lender or help outline some steps involved in this process?