I’m basing that more on things like W2’s being issued by a business versus what was reported by the person who received it - but I imagine it extends to all types of transactions.you are flirting with danger though.  

Buildings like that can be stabilized with careful screening, access control and surveillance systems and coordination with community policing.

The reason I ask is if the loan is near market rate (versus the rates available 2.5 years ago) then a refi to extract sweat equity could make this more worth the effort, risk, cost. to be blunt, with the numbers as presented and without any extract of value (refinance), I am unconvinced that the smart move was not to re-rent in current condition for $1k.  

It currently has no cooling system (just ceiling fans).

As a hard money lender who works with many investors in the Portland area, I can share some insights on maintenance costs for multifamily properties in this market, though individual experiences may vary:Lots of investors report a slight decrease in maintenance costs during winter months, bc of:- Fewer landscaping needs - Less wear and tear on HVAC systems (as heating is generally less intensive than summer cooling)- Reduced tenant turnover in winterWinter-specific issues can arise:- Potential roof repairs due to heavy rain or occasional snow- Gutter cleaning and maintenance to prevent water damage- Heating system repairs or maintenancePortland-specific factors:- The mild climate helps reduce extreme weather-related maintenance issues. - Older housing stock in some areas may require more upkeep. - Strict local regulations can also sometimes increase compliance-related maintenance costsCost-saving strategies I've seen help:- Preventative maintenance programs can help reduce overall costs obviously - Some investors report success with in-house maintenance teams for larger portfolios- Energy-efficient upgrades can help reduce utility costs in the long runYour specific costs will depend on factors like the age and condition of your properties, your management style, and the specific neighborhoods you're invested in, but hope this helps!

It’s a very popular system.

(see photos)There is a floor drain on the other side of the 2x6 wall(about 10 feet). so i would just need to tie it into this I am budgeting 20K for a brand new plumbing system for the whole house already since there is not anything in the house currently.The basement floor is already ripped out and down to dirt.

He should be able to connect you with their systems, processes, and real estate such as PM, contractor, lenders, etc.

As the private money lender, Id rather make the interest income myself versus giving it to someone else. 3.

Does it have a septic field and septic tank or is it connected to the city waste disposal system?