I have used Nomad for the last 3 years with a rental property and have not had a great experience.

I wanted to know more but all of my life experience up until that point had shown me that this must be a scam.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

@Adam M.The cost for a real estate tax accountant will vary based on location, experience, education and other factors, just like any other professional.

From my experience you should expect a 10% to 15% of gross revenue for repairs/maintenance. 

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

Having no experience is risky.

And yes this will be a huge learning experience.

It seems like the LO's have no experience working with investors and are not very concerned with trying to make the numbers work.

I am an accredited investor, looking to invest 50k to start since it’s my first one, and predominately interested in multifamily as my only previous experience is a rental I manage on Airbnb.