They own a note secured by the property.I think you are convoluting equity investors and the typical terms and structures provided to equity investors and private lenders.Think of your "investors" as the bank.  

And how wide is the chimney?

Some of the best sources for durable furnishings at reasonable prices include:IKEA: They offer modern designs, and some of their higher-end lines are surprisingly durable.Costco: Their furniture tends to be both stylish and durable, often at great prices for the quality you get.Wayfair: Offers a wide range of options, and while not everything is long-lasting, their customer reviews can help you identify durable pieces, just use more caution. 

. 🎉 I’m still finalizing things with my lender, but before I move forward, I want to be 100% sure I’m covering all the key steps.Here’s the checklist I’ve put together so far:Home inspection – to catch any hidden issues.Appraisal – to confirm the property’s value matches the offer.Financing contingency – securing my loan approval without surprises.Title search – ensuring there are no liens or legal issues.Seller disclosures – reviewing any known problems upfront.Neighborhood research – making sure the area fits my investment goals.Are there any crucial steps I’m missing or anything you think I should focus on more?

At the end of the day, we are lumping a wide variety of programs into one general theme.  

Contraction: Emphasize cash-flowing properties, distressed sales, and securing deals below market value.

You absolutely need to get copies of all the leases, AND, before closing I definitely suggest you get estoppel agreements signed by the tenants verify their current rent, security deposits, and any other important terms.

We negotiated a favorable deal by assessing the needed renovations and offering $60,000 to secure it quickly.

.- All hardware should be present, property secured, and in good working order (e.g. door stops, light fixtures, faucets, toilet paper holder, hand & bath towel bars, drawer/cabinet pulls, hinges, door knobs/locks, etc.).- Carpets must be professionally cleaned or, if necessary, replaced if there is excessive wear.- The yard must be in good order with no debris, either natural or other.

Personal loan secured by the property: Same deal, no verbiage that I see making it appear that this is personally guaranteed3.