As a lender (aka “Maker”) to Norada, you are a valued member of the Norada family.The purpose of this correspondence is to provide you with an update on the repayment under the terms of the promissory note (“Note”) as an obligation of Norada Capital Management, LLC (“Norada”).As with all businesses, Norada is subject to market factors that could impact its ability to make payments.

We lived in Texas for 13 years and just moved up to Maine in June of this year.

I would just need to invest in furnishing it very well with better appliances mainly.

Where did you read about doing that and for what purpose?

The agreement stipulates:"The owners agree, that no water shall be used for commercial purpose, but only for their private domestic use including vegetable gardens and livestock maintenance."

The main issue is land... or lack-there-of.

That being said, this is mainly doable for folks taking on cosmetic rehabs with great time management/construction management skills.

Look up @MarcusMKE, that is my main channel.

All the hard money lenders I've worked with in the past (and the one I currently work for) deem an appraisal necessary for risk management purposes to insure AIV and ARV estimates are good.Curious how you'd manage risk without one? 

The main reason is other buyers who are better able to pin down operating costs will either outbid you because they have their costs right, or you'll outbid them because you have your costs wrong.