I was wondering when it comes to finding a hard money lender for rehab costs, is it a general rule to pay for a percentage of the rehab initially?

Really silly.Do lead generation the only way it works.Motivated sellers need to take the initiative to find you.That is how it is done.Here is an other good one that will make you laugh.Everyone here that tells you to do DMM... eventually went to GOOGLE, to find good companies that send out maielrs... they went to GOOGLE to do reseach on what he best method is to do mailers, pst cards etc.

I would recommend you google Cleveland "Residents First Initiative " .

In these initial stages, focus on building your core4 of agent/deal finder, lender, property manager, and contractor for the market.

This is straight out of my paperwork: Loan Program: 30 YR FIX - SEQUOIA - DSCR >= 1.00 - 5% PPP - 5 YR PPPAnd getting back to the initial post - as usual, we only have the information the OP provided, so it's difficult to advise, right?  

You shouldn't have trouble getting hard money for the initial purchase under an LLC.

He actually recommended that I go with an even lower price than I was initially willing to, to ensure I wouldn't lose money on my SBA loan estimate.

PM is able to file an eviction on owners behalf in FL, as long as it is for non-payment and uncontested, and the owner give authorization.John, I'm confused as I didn't say a PMC couldn't file.I stated they couldn't represent an owner in court.That implies that an attorney is needed at some point.What most PMC's in Michigan do, is send out the initial eviction notice and when needed, send that notice to an attorney to file a case with the appropriate court. 

My initial infant level of knowledge would tell me it's a combination of being poorly managed (I calculated they're spending nearly 65% on expenses to only have $305K NOI on 95% occupancy at $875/m, if that's even the average rent/unit currently occupied). 

My cashflow (right now) is neutral (I plan to refinance down when rates drop), and my initial plan was for appreciation to grow my net worth.