I would outline a detailed scope of work and then hire subs that are working for other sussessful investors in town.

The other thing I noticed was that the link to a brief write up outlining the issue was written by a contractor.  

But it is the little things (like I outline here) that make the difference between participation and hitting it out of the ball park.  

The reason is is because registered lenders are subject to examination, they have regulations that vary but may get into areas of reserve requirements, net worth requirements, insurance, bonding and they are under regulator controls, many must submit a "call-report" that outlines the lender's financial position, number and types of loans and other lending business aspects.Registered lenders will generally follow prudent lending guidelines applicable to their type of lending activities, they will or should be consistent in their policies, they should have written policies applicable to their loan products.  

Hi Derek,The proposed outline you have posted is not sound.

I recently used this book: NMLS SAFE Mortgage Loan Originator Exam Content Outline Study Guide and Two Full Length Practice Exams: 250 Practice Questions and Full Breakdown of Every Outline Topic.

@Dwaine Allison send a termination letter for the reasons you outlined.

The lender is given the first lien position on the mortgage or deed of trust (depends on your state), a promissory note is prepared and outlines the specific terms of the loan.  

Here is the IRS Publication that outlines these rules:  https://www.irs.gov/publicatio... 

The new property manager gave us an itemized report with photos outlining $7K of necessary repairs and make ready after an inspection of the property.