I would love to go over the details with you when you have a moment.  

But I really need to raise capitol at the moment so I figure it may be best to master a niche first. 

@Timothy Mackinny You made an absolute very valid point and I got lower rate than this one who I want to deal with at moment but I didn't feel comfortable dealing with them. however the busy builder has no time for my lower cost projects.

As I said, as of today, this moment...I'm 90% satisfied with their performance and have confidence in their asset management team to be able to recover most if not all of my principle should more of their loans default.

I'm reinvesting the positive cash flow back to my investment at the moment.

Very comfortable at the moment so I don't NEED to rush into a bad deal.

However, we're finally at the point where we'd like to start making offers.At the moment, I first calculate using the typical BP rules-- 50% rule, 2% rule (I allow them to go down towards 1.25%), 70% rule with flipping estimates, $100/month/door, etc...  

I'm in BP college at the moment too while I'm waiting to move back to Myrtle Beach this fall.

I have done direct mail but I haven't seen much return and I understand it will take a few attempts but I don't money at the moment.

There's really no question that will ever go unanswered on here, so ask away even if you feel it's a "dumb" question, I know I've had those moments..Best of Luck