Since the lender is not verifying your income the rate is usually higher than a fully underwritten loan for that layer of added risk to them. 

If you will need additional limestone prior to the asphalt then laying a 2.5-3” layer of asphalt would be about $4,500 for 1200 square feet.

If my property was in say California or New Jersey I would definitely put them in an LLC just as an extra layer of protection.

So it's vital you have an investor minded agent on the ground who can help you make a good buying decision.

.- vital-importance-mentor https://www.biggerpockets.com/...- get-ready-to-invest https://www.biggerpockets.com/...- get-your-head-in-the-game https://royallegalsolutions.co...You might want to read and follow these threads:advice-to-your-20-year-old-self https://www.biggerpockets.com/...financial-advise-for-getting-started https://www.biggerpockets.com/...how-to-prepare-for-a-career-as-a-flipper https://www.biggerpockets.com/...new-to-wholesale-real-estate https://www.biggerpockets.com/...what-is-the-best-re-related-9-to-5-job https://www.biggerpockets.com/...Bonus for the weekend, my collection for starters (read the comments too, and then if you like the author, go check out what else they wrote):- stages-of-investing https://www.biggerpockets.com/...- newbies-learn-real-estate-investing https://www.biggerpockets.com/...- 5-ways-to-know-youre-not-ready-to-invest https://www.biggerpockets.com/...- ideal-vs-desperate-investor https://www.biggerpockets.com/...- how-much-to-offer-property https://www.biggerpockets.com/...- hazardous-attitudes-of-investors https://www.biggerpockets.com/...- 21-traits-scammy-real-estate-investment-guru https://www.biggerpockets.com/...- youre-not-cut-out-to-be-real-estate-investor https://www.biggerpockets.com/...- questions-new-investors-should-ask https://www.biggerpockets.com/...- real-estate-books-beginner-investors https://www.biggerpockets.com/...- what-separates-those-who-succeed-from-those-who-fail https://www.biggerpockets.com/...If that's not enough, ping me and I'll give you a whole collection of blogs and podcasts to follow.Bonus 2: 1) Read at least one hour per day every single day.2) Remember the quote by Jim Rohn "You are the average of the five people that you spend the most time with."3) Check for toilet paper before sitting down.

SO - six people is the overarching rule, but below that layer is many more rules.

If the owner is deceased check the vitals statistics dept and request the death certificate.

@Jim Roach As you start peeling back the layers on this big stinky onion, I am sure you will find plenty of rot and incredible costs if you need to foreclose, evict, trash out, and repair the typically junky properties to junky borrowers that force someone to write a CFD on that need $30k to make then worth $30k.

We also require renters insurance from our tenants which adds another layer of $100K liability for certain tenant caused damages such as they start a fire.   

So all that needed to be done was removing the layers of thin wallboard and plaster in a house that had no internal walls and was less than 800 sq ft with no basement. 2.