I’ve been studying the BRRRR strategy for some time now and I want to take action soon to complete my goal to get my first property by this year.I’ve been looking around for HML to further understand their terms and procedure and I am planning on meeting with them and I’ve talked on the phone with others.

Also, this lease will have been added to time and time again over the years and massaged to best fit the local courts and rulings.Don't risk issues with your several hundred thousand dollar asset with a .02 cent lease. 

Or, if you use Attorneys or another Closing Agent, where you are, I'd ask them what the proper procedure is.

As a standard procedure, we typically do a quiet title action once we take ownership to make sure anyone that might have an interest that was missed gets extinquished. 

Thats priority #1.What I'm saying is that when getting started people become obsessed with the little things like the color of the drapes, brand of furniture, etc. when what they should be focusing on is getting their first property up and running with as little cost as possible on liabilities such as furniture.They should be more resourceful when it comes to these things by working deals with the owner, finding furnished properties, getting items wholesale.The main effort goes into the pictures, the title & description, the backend business, acquiring a property in the first place, negotiating terms, creating stand operating procedures that they can use to scale later on. 

We fine-tuned our tenant qualification procedures and improved our due diligence skills as it was one the oldest properties we ever purchased - built in the 1940's.

We fine-tuned our tenant qualification procedures and improved our due diligence skills as it was one the oldest properties we ever purchased - built in the 1940's.

It's just not gonna be a good fit, they're not gonna have procedures in place and expectations to manage a smaller loan size.Small LendersTexas Republic BankBancorp South now Cadence BankGolden BankMedium LendersTexas Capital BankPlains CapitalFrost BankA smaller loan may have a shorter time period for the closing etc. and that leads me to my third point.Commercial Lender Time to CloseHow long does it typically take to close?

They do not provide an accounting of your cash flow, re deposit uncashed checks, etc  they will not honor checks after 90 days ( normal procedure) but will not credit your account either  you must pay a $50 fee to stop payment & have $ put back in your acct .  

I'm trying to figure out how to use OPM to repeat this procedure, as it's been very lucrative for cashflow.