So while cash is necessary to keep the property afloat, I invest more for the appreciation of the asset.  

Keep learning and assessing your financial position as you grow.Good luck!

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

You should also check to ensure they have Errors & Omissions insurance, Fidelity Bond coverage, and a Financial Institution Blanket Bond.Some are more consultative and advisory and provide guidance, while others are just processors. 

Payment Terms & Renovation LoansA financial agreement is the backbone of any contract.

what kind of investment was/is this  a little more detail may protect others if you think this person is a financial predator.  

My end goal is to have financial freedom in 10 years or less by bringing in $10k/month.

I've already had to turn multiple people away after running their credit reports, so I can already see that it's not going to be financially feasible for me to be covering the fees myself.

. $300k loan needs to show $15k liquid assets, and draws typically require you to pay contractors and obtain a lien release before you can be reimbursed for the money you paid contractor.While I know there are a lot of people who use low money down loans to get started, it is risky.  

On the other hand, investing in some repairs (if financially feasible) might significantly increase the property's market value.Remember, each property is unique, and what works for one might not work for another.