Always budget extra for surprises.Skipping Permits – Even small renovations may require permits.

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

In the case mortgage foreclosure, I usually offer to pay for the existing mortgage and give them a little extra to move.

Have an owner's closet, where you lock up your extra inventory so the guests can't use it. 

Question that the “believers” don’t ask is “how much could I earn on the extra money I’m spending to pay down the loan faster?  

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Since they are responsible for maintaining the relationship with you after the transaction closes, this approach adds an extra layer of confidence and security to your investment. 

Well, STR can work well for people who own a vacation house for personal use, and just want to generate some extra income when not in use.  

For me at least, doubling my profit is well worth the extra two months of expenses on the market.