@Bob Stevens I meant, you're pulling comps as part of your process to analyze a deal, right?

Every state has a slightly different process, and time frame for each step, so you may want to consult a Realtor for your state process.

Hard money typically refers to a company that has it's own underwriting guidelines, rates (9% - 15%), costs, draw process ect.

Transitions are also complicated and the screening and rental process can be burdensome.

Be sure to factor in contingencies for unexpected costs during the rehab process and maintain a realistic cash reserve for property management and maintenance.

It is a 6 to 8 month process, could be longer.

On the flip side, I am in the process of acquiring over $1.5M in defaulted DSCR loans form borrowers who are your age that put 25% down but had no money to fix any of the problems  = lost the renters and walked from the property.

Any good HML will be happy to share the contact info of borrowers so you can see how easy the process was and how well they treated the investor.Can you share a recent closing document or HUD?

We have helped a ton of clients with the process here in Chicago..just be sure to find a team (Agent, Lender, HUD Consultant, and General Contractor) that has done these renovation loans in the past!

This is perfectly fine if you are going to be living there a long time, but I see people who use a home as a stepping stool home to a larger home in future and make it very customized to their liking but then when try and sell it, it does not appeal to the masses.