What are the specific goals, particularly:1) What return are you aiming for, also duration (quick return of capital or long-term cash flow)2) Big one is WHY to invest your $100k in private lending (complicated, risky) versus alternative investments (treasuries, bonds, other real estate strategies, etc.) 

It may make one feel good to know that the discount rate for a dollar earned in the future is 12%, but for the IRR calculation to reflect anything near an actual outcome, the income must be reinvested at 12% as it is received for the duration of the holding period used to compute the IRR.  

You won't be addressing cosmetic requests as maintenance issues going forward.My clients and I have found that "no good deed goes unpunished..." and that being responsive to tenants' non-essential requests ensures that you will be banging your head on the wall for the duration of the lease.  

I wondered if some average the first year ROI into the ROI for the duration of the rental or if they just exclude the closing and updating costs for the first year from the equation.

The interest rate is 5% to 10 %, the maximum loan duration is 1-15 years for $500,000.00 credit offer and 1-25 years for $500,000,000.00.As a private money lender, all decisions are made in-house allowing us to work quickly and decisively on your behalf offering fewer hassles and a faster turnaround.

DSCR also offers multiple terms so knowing up front which one is going to offer the best cash flow and overall cost is important.Knowing if you can close in an LLC up front and if there is a rate bump, What DSCR ratio are you using for approval and do they offer a lower DSCR ratio option as a back up if the appraisal 1007 (Rent schedule) comes in short, Do they offer an I/O interest only option for higher cash flow and do they use the ITI or PITI to qualify for DSCR ratio payment approval, Does the bank/lender have overlays on PITI reserves 3/6/12 months reserves required, Do they require landlord seasoning or will they approve first time investor, Do they use lesser of the two on rent schedule or STR rents or use the VRBO previous owner tax year.What are they offering in regards to rates and duration of prepayment penalty - what is the cost for No prepay.

You have to weigh the lease duration carefully when taking over a property. 

Summary of scope of work: what repairs and improvements are being made.Expected duration of the deal check to check and why (how long do you think this deal is going to go?)

With the FHA you have PMI for the duration of the loan. 

Expected duration of the deal check to check and why?