Oops, did I fail to mention he is black, from Detroit.

Failing to give him the opportunity to assess and repair the damages nullifies any legal claim you may have had.

"If you don't fail, you're not even trying."

If you fail to follow the rules, you may open your personal assets to a lawsuit.

There was a lot of information I didn't mention in this post since each company and individual can operate differently so if there was something I failed to mention, please feel free to leave a comment).The terms Hard Money Lender and Private Money Lender can be confusing because people sometimes use them to mean the same thing.

Quote from @Dennis Gallof: You can always count on government programs to increase costs, increase time required, increase headaches, and typically fail to meet any stated goals.

You may have to pass a city inspection - one of ours is every 4 years unless fails, then it’s every year; some require lead-free certificate or testing between tenants; one of ours now requires a smoke alarm report and a new certificate that tenant must sign saying they know their rights, eviction won’t happen if ypu don’t have that for court.

Sometimes it just takes doing and failing to learn.

The extremely low interest rates of a few years ago, made it possible for investors to buy Class A properties and rent them out and at least break even.Many investors also hopped on the STR wave and made cashflow that way with Class A properties,With current rates, investors are back to the "norm" where Class A rentals don't cashflow for 3-5 years.So, investors are now looking at lower Class properties for cashflow, but many FAIL to properly understand the higher corresponding risks.

Same with contractors, most GCs you will meet aren't worth their weight in scrap metal.