Hard money was the best option for this property, given the condition and timeline to close.

Hard money was the best option for this property, given the condition and timeline to close.

I hope you found someone and you were able to close!

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

This can lead to "renegotiation" demands at the closing:(Other Potential Issues to Consider:Being in the chain of title is also exposure to potential legal issues.Selling an assignment may be a violation of a state's real estate statutes.Wholesaling w/o a real estate broker's license may violate your state's statutes.I'm sure there are more...

We're closed!

If the property is not cash flowing and is due to your mortgage carry, it will most likely require a cash buyer to work (or close to it). 

It won't be 100% accurate, but it will be close enough.

Our only notable closing cost on the sale was an attorney fee of about $5k.Long story short, if you’re a real estate investor interested in another asset class, perhaps consider acquiring a small business like a laundromat.

Because like you said, my rentals are very close to a net loss on a yearly basis.