I definitely forgot those important details. 

Quote from @Olga Daisel: @Randall AlanI agree with Randall on getting more details, $7K gross a unit btw is a great gross income.

Without going into too many details about the property, I'm interested in connecting with people who deal with off market listings and investors in this geographic area. 

He was a really nice guy, but didn’t seem to know many of the details regarding fees.

My guess is that's probably around 50% to 100% of the amount of capital initially raised when this deal went out.This scenario is illustrative of the risks of short-term loans. 

Oh wow, absolutely love all of these tips and details!

In making this post here on BP, I wanted to humbly come to the forum however and start from scratch in terms of idea generation as to any and all avenues to pursue in getting the word out there so as to not miss any options.

For a first time investor, I definitely recommend house hacking for most people as homeowner loans are by far the best in terms of rate and LTV. 

With software like propstream I can even look at seller mortgage details and MLS private remark.Getting license you only know the legality aspect of being an agent but doesn't necessarily means you would be a smarter one to get to know the market.The only thing that I can not do with propstream is I can not download all disclosures when I try to purchase.

However, I notice that Personal Injury is not included and I'm thinking that may be important to have for a Short Term Rental.