OR is there no monthly payment to the hard money lender post BUY, Repair, and rent phase?

I have 13 years of residential remodeling experience, operate a one man residential construction LLC, and have a mentor with 30 years of residential remodeling experience that includes 4 flips.Here are the Deal Details:$450,000 = Property Value before renovations began$350,000 = Current value of property$220,000 = Current Mortgage held by parents$160,000 = Cost of making sale ready$380,000 = Parents total investment$500,000 = After Repair Value (conservative estimate)$120,000 = Profit of project$(10,000) = Loss of current equityHere's the Scope of Phase 1:Finishing current 1000 sqft renovationNew 1000 sqft garageNew 100 ft drivewayRenovating 1,500 sqft craftsman barnNew septic systemNew water wellAdditional Information:Despite that the property could sell currently for $130,000 net and the estimated profit will only be $120,000, my parents still want to continue with the project. 

I’m in discovery phase.

Do I need to order a Phase-1 inspection? 

The long initial acquisition phase makes it tough.

.- Educate yourself and house-hack to start small, and learn all phases of investing while minimizing the risk- Find a partner with experience who will let you follow them through a deal to learn for freeHope this helps

I am a new investor who is in the education and raising capital phase.

Have you checked with the local building dept (it’s usually in their website as well)-park impact fees-traffic impact fees-school impact fees-per unit charge for sewer/storm-check if you have room onsite to meet the required parking ratios (1.85-2 spots per unit is required out here)-check your phase one environmental as see if you’ll run into any issues on the property by expanding the footprint.Hopefully your building in an area that welcomes new development and most of these don’t apply.Best of luck to you.

My question is this.What if I were to advertise that I could provide a cash offer in 24 hours or less, similar to a lot of the i-buying phase we are seeing now.

Now that I’m moving into the second phase of trying to buy multi family units, I reached out to another agency who i’ll be going on showings with, but have my current agency wanting to help as well.