Of course, the more the merrier in reserves, but anything over 6 months is excessive IMO and reduces your ability to take on new projects.A common mistake I see is buyers not putting the tax credit they received at closing into reserves.

Hello Fellow Bigger Pockets Friends:I just went through a transaction in Newport Beach and had escrow fees in excess of $15,000.

Hello Fellow Bigger Pockets Friends:I just went through a transaction in Newport Beach and had escrow fees in excess of $15,000.

The override would be on all distributions and excess returns upon sale once all initial capital had been returned to investors.  

Keeping in mind that every lender is different - they have different appetites and risk tolerances (pricing typically is relative).Lenders want to see:A good deal - something you can make money on - that should be important to both partiesSome liquid assets - Money in the bank, the ability to handle a deal if there are cost over runs or a long holding period. 

[This is the weak point where your friend could take your money.]Do NOT receive the refinance loan proceeds from the title company (except proceeds in excess of your friendly loan, if any and normally not).Refinance loan proceeds must be sent to your friendly lender otherwise two things occur: 1) the refinance lender and/or the title company gets suspicious this is not really a refinance, which may kill the refinance loan and; 2) you don't get the discount on the title insurance due to buying title insurance again within a short period due to refinancing (in Texas) because you’ve tipped them off that you’re not really refinancing.

Here's the problem, that area is the only beachside area in Brevard with an excess of inventory.

Get a taste and make sure you have the appetite for this market.it is not for every one.

Is there an excessive number of single parent homes?

I've even known some people to post "fake" ads for units they are considering buying to see how many people reply and what the market appetite is like.Even with a larger down payment (~25%) I'd struggle to make this one work.