Imputed expenses are important because they will be included as Operating Expenses when a lender appraiser does its appraisal, and also when the lender calculates its Debt Service Coverage Ratio.Regarding pest control, it's not just monthly roach spraying.

And Exchange systems would add so much liquidity and fluidity to the note market which is what I would love to see a Blockchain based exchange note market. 

I grew up with a realtor for a mother, but she’s not too well informed on new construction.As it stands today, I have roughly 70k liquid and looking to invest in building a new construction home for profit.

Setting the DAF to be the beneficiary of liquid assets is simple.   

And you can start small, buy an old camper, cut a big window, spray paint it black and brown, add some wood trim and sell coffee outside events.

But at the end of the day, well located properties in which the owner has ample liquidity to ride out long-term cash flow negative periods, rarely lose money.  

To qualify for debt, lenders generally look at net worth (aim for the loan amount), liquidity (10% post-close), experience, and a solid credit score (ideally 680+).

With plan to liquidate around yr 5-7, 1031 those gains to pyramid the equity growth. 

I would expect liquidity is limited.

However, if the collateral is real estate and you need to seek the forced liquidation of the collateral (foreclose) you'd better understand and plan for all the issues that rehabbers deal with after getting possession.If you own a note in junior position such as a second, you have the further expense and exposure of monitoring the senior mortgage and factoring in the potential cost of advancing funds to keep it from foreclosing you out.This thread is about training.