Quote from @Chris Seveney: @Joel BarjonThe servicer of the loan should send this to you.

It provides more clarity for me as this is new and uncharted territory - especially how the repairs/draws take place seeing that this was a vacant fixer-upper and the lender in 1st lien has a rehab loan.

With cash - you can get deals that you cannot get with loans.- you can refi later- you can carry the insurance you want, not what the lender wants

What loan are you using where you can put only 1% down?

If I had ten thousand liquid cash to spend, I'd probably do a house hack two-family and obtain an FHA loan with only 3.5% down. 

I know that sounds weird, but you build wealth faster on bigger properties due to higher rent prices, bigger loan buy down, tax savings, and appreciation. 

what i'm finding is that, if i BRRRR successfully and then refinance into a DSCR loan, almost every property is break even or slightly negative. 

Conventional loan How did you add value to the deal?

With a $200k HELOC, I could flip one property or buy 3, using it for down payments and leveraging loans.

So on my Canby Oregon project 90 homes I did the PPM route with only 5 investors where I own majority and it is me that gets the bank loans etc and runs the project investors are all passive.