And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.

If you can get a note for 200K at no interest and you have completed your due diligence on this deal, then go for it. 

Completely remodeled home only minutes to Downtown Pensacola 📍BRAND NEW ROOF, HVAC, WATER HEATER, ELECTRICAL, KITCHEN, BATHROOM, SIDING, FLOORING, LANDSCAPING, FRONT & BACK WOODEN STEPS, AND ALL OF THE FIXTURES.

I already have some equity in the property after doing a complete rehab but I don't want to diminish my returns selling it after one year, paying for commissions/closing costs.

I will send them guidelines as to what is needed in the title commitment and in the insurance policy.Once all that prelim stuff is out of the way, the most important thing to do in a bridge loan is tackle the rehab budget because you can not order the appraisal until the rehab budget is complete. 

After completing renovations, the property sold for $210,000 on 2/4/2025.

If I’m doing the rehab alone, it will probably take me 6-8 months to complete.

We rented the 2/1 side for $1300/mn and thought we could finish the addition of the bath and closet but got so busy with my construction business I still have not completed the work.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

If you are focusing more on turnkey's then I'd suggest partnering with one of the investment companies so you can buy a property that's been completely renovated and that has a resident already in place.