They tend to gloss over necessary repairs, focus on paint and carpet, underestimate costs on any repairs they do take on and do a poor job of managing subs and making sure things like liens are released and tax docs are in order.

Slightly different scenario, as the bank mistakenly had the incorrect legal description on the original mortgage, released it from that property but did not properly re-record against the actual property. 

I would charge a pro-rated amount based on the number of days the place stayed empty, any other expenses you acquired to re-lease the place and return the remaining balance.

However, Starlink just released its RV version without a waiting list.

With ARV at 135,000 at a maximum loan of 70%, you can borrow up to 101,250 which means, in this scenario, you could get the 85% of acquisition and 100% of rehab, i.e. total loan amount of 83,750 with an initial release at close of escrow at 63,750 which is 85% of acquisition, and, the rehab holdback of 20,000.15% of the 75,000 acquisition down is 11,250 and closing costs are likely ~3,000 so you initially need ~15,000 to closeAfter close, a prudent hard money lender will require reimbursement style draws which means you must first complete at least phase one of improvement/rehab to the property before drawing down on the rehab hold of 20,000.With only ~5,000 left over after close, you don't have much room for soft costs like utilities, nor much room to get the rehab started, nor much room for the monthly debt.

Hey @Liam Nichols Here's a book just released by Bigger Pockets that you should read. www.biggerpockets.com/teen 

So you will have to require lien releases and lien waivers.

Also- for the Franchise Tax Board withholding, do they release me back the money or is it a payment ?

Also- for the Franchise Tax Board withholding, do they release me back the money or is it a payment ?

Of course we always thought those weren't worth anything either, until someone learned how to frac shale and release the gas.