Since the LTV on the hard money loan is high , I would personally purchase it using a bank statement loan at 85% LTV (15 percent down) and, as you mentioned, just use your cash for the rehab.

What made you think this person had no experience whatsoever and didn't own their own home? 

I personally wouldn't hold a property without it.

I have to usually explain that just because the owner made xyz does not the next person will or even care.

Personally, I'd spend a little more if I knew there was significant value add there.

The new person must complete an application and pass the screening.

Most states require them to produce a report with that data to give to the client.So why is having an algorithm look at the rental data illegal, but an individual person look at the data not?

In fact, New Jersey law prohibits you from listing personal identifiers on the form. 

I’d love to discuss how I could help the organization by purchasing it and restoring it to productive use.”Request a Meeting: Ask for a meeting with the person or committee responsible for property management.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.