Grading/ sewer/ septic/ permitting /any subwalls ..  

When you're talking about millions of dollars  in cash being handed over, this sort of large scale investment would most likely require a private placement memorandum.

@Tim Kaminski Many selling costs are fixed (eg title search fee) while others will scale with the sale price (title insurance and realtor fees).

There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself. 

In my view we achieve this primarily by scaling not by recalibrating the way your PM does business. 

I would say unless you are scaling massively in the first year to two years, the contractor in-house does not seem to be a good option.

That being said, there can also be some advantages, such as economies of scale, which allow smaller investors to achieve better returns.In other words, the DST structure itself doesn't significantly hamper returns.

A huge part of being successful and scaling as a real estate investor is finding reliable, available, competent, hardworking help (handymen, electricians, HVAC folks, property managers). 

Institutional private lenders operate on a larger scale with more structure and formality, offering quick and flexible funding but within a regulated framework.

.- Goals: My aim is to successfully purchase, rehab, rent, refinance, and repeat with my initial properties, eventually scaling up to build a portfolio.Questions1.