Don't pay any other fees.Fix-and-flip loans will typically last from 6-24 months, with 12 months probably being the most common.

That last one lets him know when it's time for a drain and refill.

But, my answers are based on my actual experience being a real estate investor for the last 12+ years.I am 41 years old and currently own 160 units.

Most work with us, some do not.Be careful also as they may tell you to keep their security deposit as last month's rent.

I've been in the investment space almost 9 years now, and been actively investing in flips myself, the last year.

Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Pricing tools that exist on the market are decent, but you also need to know how to control it, otherwise, it will go nuts with unrealistic rates far out and extreme last-minute discounts. 

Purchased my 1st rental property last year in Cleveland, a 2unit MFH with 10beds between the 2 units. 

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $250,000 Mortgage Amount (80% LTV): $200,000 Equity: $50,000 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop from 6% to 5%Monthly Expenses: Mortgage Payment: $1,074 Property Tax: $260 (4% Adjustment from last year) Utilities: $309 (+3% Adjustment) Insurance: $104 (+4% Adjustment) Vacancy: $105 Repairs & Maintenance: $105 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $1,957Rent Income after 12 months assuming annual rent increase at 5% : $2,100Cash Flow: $143 per month 😊Year 2 Return on investment $2,951 Principal Paydown year 2 $20,000 Property Appreciation (assuming 8% per year) $1,720 Yearly Cash Flow (this will increase as rents rise) $50,000 Initial Equity Total Gain $74,671 with just $ $22,789 remaining in the deal. 

Lastly, they like building relationships.