Scope of WorkThe Subcontractor agrees to perform the following work (“Scope of Work”):Detailed description of tasks and responsibilities.Exclusions: [List any exclusions here].Materials to be provided by: [Contractor/Subcontractor].Reference drawings or plans: [Attach if applicable].2.

Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

Inadequate Regulatory Filings: The last Norada Capital Management Reg D filing was in November 2020, with no subsequent filings despite continued efforts to raise funds, indicating potential regulatory noncompliance. 12.

If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC. 

Drawing from my experience delivering over 550 investment properties, I can say with certainty that self-management isn't practical for most investors.

One of the side benefits is that I can avoid the whole draw/inspection process (not overall inspection, just the ones tied to the draws) and don't have to worry about draw fees.

The bank will put a hold on them, so you can't just draw them out, so don't plan to need them for a while.This will cost you an appraisal on both properties to be performed by that lender. 

My draw down period is ten years of interest only payments then twenty years principal plus interest after that. 

When that portion was complete, I could then receive draw money which allowed me to pay my utilities, taxes, and mortgages.

At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies.