It was mentioned above you could refinance into a conventional loan, however with the 5% down conventional primary residence loan on multifamily now chances are you won't refinance this FHA loan unless you plan on living there for an extended period of time and rates come down. 

Overall, it is okay, but it still requires relinking the accounts periodically, which seems more security-related than anything else.

Second - a DSCR 30 year fixed perm loan to refi the hard money loan and hold onto long term.What others have replied to is completely accurate - it is hard to accomplish BRRRRs right now due to the DSCR refi constraints (interest rates, LTVs and seasoning periods), however, not impossible.

Does anyone use another method of goal setting or periodic review method?

The unit was crappy to begin with and this didn't happen over a short period of time.

Also, 18 months is too short a period of time to obtain a truly significant result.  

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

But not the time period. 

The agreement ensures that investors are given their proportional share of income generated by the property every month or a period outlined in the agreement while detouring them from liabilities like maintenance, taxes, or debt tied to the property.

@Brandon Croucier That isn't correct... state laws allow you to enter the property within certain time periods, normally 24 hrs, with or without permission.