Hard Money How did you add value to the deal?

Its worth having your brokers license if you want to make money helping other people buy and sell.

Investors should be extremely cautious with Qualified Intermediaries that also represent (and get paid on) replacement property solutions or Qualified Intermediaries that refer clients to their "associates" or "friends" for replacement property solutions so that they can get paid a referral fee or those that actively put replacement property solutions together in order to make money.  

I have done a lot of different land deals and continue to do them today.. however today I am the money..

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

Speaking from the Arizona perspective, we are experiencing continued growth, attracting lots of new residents (Californians choose Texas and Arizona as their top 2 places to move).Here's an economic forecast:https://www.azcentral.com/story/money/business/economy/2019/12/11/arizona-state-university-annual-economic-forecast-predicts-slower-growth/4398074002/Not sure where you are getting your "low rent" thoughts, maybe compared to CA.

It would be smart to do a full lease audit, estoppels issued, and tenant interviews.And if you are buying cash, there is nothing mandatory, since it is your money at risk. but again, physical condition inspections, understanding of tenants (they are a great source of information about issues with the property that the landlord may not know or may not disclose), surveys to understand accurate property lines, etc.

Make sure to have your contractor ready and your cash or hard money loan ready as well to work on your repairs. 

If you can hold onto these properties over time (ie cash flow sufficient to not lose money), you have already "won". 

You are basically changing the dwelling and Baltimore City is not gonna let you do it without getting your money :D))