In addition to the management fee and interest, you may encounter several other costs when securing a private loan.

Let me know if you have any additional questions!

Another important thing not mentioned is that you need to list your lender as "additional insured" on your insurance policy. 

There is also a long list of additional resources, abilities, networking, training, person shaping it unlocks that I personally believe is unmatched anywhere. 

However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

Perhaps hire the PM as a second set of eyes for quality control but that should be in addition to the GC you should hire from day one. 

In addition to appraisal/financing, I would also wonder if it's possible to get it insured (like, liability insurance for guest slips and falls).But instead of thinking about why it wouldn't work, think about how it could. 

If there is an addition that is not part of their diagram that would be an indication that the issue that concerns you may exist and then I would look further to see if there were permits for that addition.

In addition, I do want to get some type of temporary security camera for the property while doing some minor rehab fixes, Are there any suggestions for temporary security cameras?

What I mean is, if you are thinking $50,000 down, plus closing cost, plus fix up cost, plus time on market to get rented as your foot in the door cost to get up and going- you might want to add an extra line item for additional time and additional costs associated with this type of scenario.