Investors typically want detailed financials and an agent can help you put together all these docs like rental history, expense reports, potential ROI projections, etc.

Quote from @Chad Verde: To clarify, $200k in equity so estimating cash out refi around $130kLike some wise advise here, this is not cash this is equity.

Get estimates for all repairs that are above fair wear and tear in advance. 

I would be clear about the details of your project and what they are investing into.

The level of detail and info that James had was off the charts.

.🔴 Incomplete or disorganized documentation: Missing detailed plans, financial statements, or timelines could mean the borrower isn’t ready to execute the project successfully.🔴 Over-leveraged finances: Borrowers with excessive debt or insufficient personal capital invested in the deal could pose a greater risk of default.🔴 Questionable property comps: Overstated market values or inappropriate comparables may mean they’re inflating expectations.As always, thorough due diligence is your best protection.

I'm an IT Consulting guy by day & RE investor by night so getting into the details of all of the technology offerings, how they integrate, which capabilities overlap/don't, where integrated value sits, etc. exposes my nerdiness/love for this kind of stuff.

My new bookkeeper initially thought the multiple checking accounts was weird but now she has come around to seeing how easy it is to get detailed reports and information about each individual property this way as opposed to having one operating account for all properties.

I'm preparing to send my first wave of direct mail in the next couple days (planning to buy the list on Saturday [600/700 or so] and yellow letters on Sunday) and I've sort of been ignoring the idea of doing direct mail "in-house" because I don't fully know the details.

Here is a detailed look into this issue:https://www.biggerpockets.com/forums/51-tax-legal-issues-con...