They hold your money, spend it without your permission and you have to call and email incessantly to get a release of your monthly draw.

Its even more important that it is a great deal if you are going to be  a drawing card for others to put in their money.

On a subsequent call, I was introduced to an agent in Indy, and we discussed the types of properties and locations that Homeroom seeks out. 

I am actually doing a flip right now and hard money lender isn't the easiest to give us a loan for the rehab (draws verse pulling all at once, which is normal).

The biggest difference here is that you'll pay P+I on the entire loan amount immediately with a cash out, but you'll only pay interest on what you draw on the HELOC during your draw period.

I managed to find one but after 1 month, he quit on me, citing that the work load was too much for no pay, so it's back to the drawing board.2.

While this is a cool area with natural springs that does draw in people, most people are local to FL and there is a lot of camping. 

Another draw back is short term your expenses will be higher because you are paying the mortgage plus paying back the loan but that is a short term draw back until the loan is paid back.How it works: I have experience with my wife's company and mine, each is a little different. 

-Rehab funds are usually held in escrow, which will require you to request draws. 2.

You also don't need to do a traditional long term strategy, is there a draw the  area that playing host to a traveling nurse or other professional/student would be interested?