SFR will be 1/1-3/2 properties in median income (B – C) neighborhoods requiring mainly cosmetic improvements.CRITERIAWe would be looking at an initial LTV of as close to 100% as we can find – this number would change respective of how much capital we build and can reinvest from completed projects.

I had not closed after my buyer had failed to close because he had put down a significant amount to get the property out of foreclosure and had told me he planned to close with his initial lender.

He may have taken a plea or plead guilty to a lesser charge or even been found guilty with no jail time, but with the stipulation he be registered as a sex offender.Your main concern should be what he was charged with.

A few people had rejections late in the game after the initial submission looked good.

Should I just focus on single family homes initially?

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

@Richard QueenHappy to answer any questions you have over an initial phone consultation if you would like.Also, here is a link to reviews from 30+ investors who have worked with us over the years:https://www.biggerpockets.com/users/ZacharyCole/referencesLink to another forum discussion with many investors who have worked with us previously:https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster?

Achieved a rental rate stronger than i initially anticipated, and it was rented 3 days after being listed.

I'd appreciate your insights on balancing the trade-offs between initial capital outlay, monthly cash flow, and potential returns.Thank you for your expertise,Ricardo

Achieved a rental rate stronger than i initially anticipated, and it was rented 3 days after being listed.