Hello,1) how can a hard money lender commit to a rehab amount they will fund prior to closing?

The commitment letter had the following language;Transfers/Assumability: Subject to Lender’s then-current underwriting requirements and compliance with the other requirements of the loan documents, the Loan is assumable by a qualified transferee of the Property for a fee of 1.00000%of the unpaid principal balance of the Loan at the time of such a transfer (a “Consented Transfer”).My question relates to the terms of the loan and savings to the buyer.

They typically ask no more of you than to respect their time; follow through on your commitments; and a demonstration of your desire and ability to learn.

Unfortunately, right now I am bedridden and cannot walk so I could not commit to do anything that involves my ability to leave home. 

Its has been almost a year since my wife and I committed to becoming flippers/rehabbers. 

@Jay Hinrichs Just signed off on a title commitment where the prior transfer was a foreclosure in Virginia... 10% of $462,000 to the auctioneer. 

I have had to step away from real estate to deal with sickness in the family but now I am back and fully committed to building a successful real estate business.

If you are committing to live in BC full time and you can make a profit off a fix and flip do it.

@Luis ReyesA lot of your questions depends on how much time and resources you want to commit to. e.g. if you plan to self-manage, how far do you live?

The issue is if you do it on an owner-occupied home within a year of closing you have also committed loan fraud which is a federal crime and a felony.Most if not all portfolio lenders will allow you to close in the name of an LLC, and some require it because they classify the loan as a business loan and do not have to follow Dodd-Frank protocols.