The best way to develop a solid SOW is this - you start off with what you are visualizing in your head, send drawings, pictures and products that you like.

You and this private person you met hammer out the details of the loan at the kitchen table so to speak and you seal it with a handshake and your reputation that this Private Person already respects or whomever introduced has vouched for you.But if a man opens a lending company tomorrow with 50 Million of his own capital and he checks in on the HML market to see what it bears and he copies his products and UW guidelines and now is he PML or HML? 

But if your looking to cash flow like $500 or more per month you might want to look into more cost effective markets where you can purchase a property very cheap and the rents will give you that type of cash flow your looking for.

You are basing your claim of damage solely on the time the seals lasted not on the type or cause of the damage.

The market since COVID has reacted incredibly over reactionary on the way up & down, so I expect a K-type recovery in certain pockets but it be just profound and quicker than the yesteryears(3-4 type fall in GR, 5yrs + in GD).

What types of property are you looking at for your first investment? 

Some wealthier types out of Austin who run these real estate investment groups.

Faced with mounting expenses, extended timelines, and diminishing returns, we ultimately decided to sell the property instead of continuing with the BRRRR strategy.The Insurance Mistake:The biggest lesson I learned was that I had the wrong type of insurance.

I would never put in a gas range, oven, dryer or any other consumer product for tenants, because a lot of them are idiots and will kill themselves or someone else.

Super cool idea I think - win-win for everyone, you make extra $, cleaner makes extra $, guest gets what they want and can have a unique memorable experience.Opens the door for lots of different "package" types What's the downside?