One way to think about this is these two will also own the businesses and want, of course, to steer it in a manner that fills their wallet the best.

If the price of a home is $5,000,000 in NY, how much more will it rise  over the course of 5-10 years vs here in Detroit?

Private money lenders or construction loan specialists, on the other hand, are faster and more flexible, though their rates and terms will likely be less favorableFor a more rural area, local banks will almost certainly understand the market better, but connecting with private lenders who specialize in spec homes could provide more agility.

Of course, I could just be overly concerned and this is just a kind ol' investor trying to pay it forward.

The person I want to invest with is able to accumulate cash, in their personal life, on a regular basis, and is not, over the course of many years, blocked by one barrier or another from this accumulation.

- Of course, most of these PMCs weren't even properly licensed and were typically one-person companies.If you have an LLC, the PMC will only need the LLCs EIN.- If you chose to set up your LLC as a pass-thru entity, then you will need to supply your SSN.FYI - to avoid getting nasty letters from the IRS about errors (which might cause us to be audited), we will ask for a copy of your EIN assignment letter or a copy of your SSN card to confirm those numbers.

But isn't that's par for the course?

Managing five rentals can eat up a ton of time in any given week, often at times that are inconvenient to you and your personal interests (family, hobbies, travel, etc.).Of course you can manage on your own.

Of course have your costs researched first bc the buyer will want to know how much it will cost them to buy.

Most reputable HMLs will not charge anything until you are sitting at the closing table and all fees will be listed on the HUD-1 closing document.And of course, what are the points, interest, and attorney/document/admin fees for the loan?