. $70k for a full gut renovation doesn't sound like much, depending on how many square feet the property is.Also, it might be worth finding another local investor in Lorain who understands the building court...you should be able to attend, tell them the story, and then find a creditable contractor to get this done or figure out what you could whole sell the property for so you can get out from under the stress.

Setting up a team (cleaning crew, handymen) early on will help you balance your workload and minimize stress.

There is no “easy button”, that’s why we all learn from every transaction.There are thousands of commercials that claim to make you “lose weight by taking this supplement “ or “you”ll make thousands of dollars a week after buying my course “…please don’t be so quick to believe everything someone says, fact check!!!

I would do this anyway to relieve yourself a bit (of time and stress).

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

My credit is still very strong and I would refinance and keep it within an LLC.Would appreciate any insight or help as it has been a very stressful time and I am looking to move quick on refinancing.

They have one beverage too many, get an idea in their head that they can fix their problems by purchasing a short-term rental, and all they have to do is click a button to ask their question.I wouldn't bother sending financials to anyone until they show a pre-qual letter from a bank to demonstrate they are slightly serious.

However, the lower payments give you flexibility in case a major life event stresses your finances and/or monthly cashflow. 

Selling property for much higher than what a licensed appraisal would come in at moves the transaction into fraud territory.Note/lien = sales price - cash downAPR: fair reflection of riskIf APR is high => "high cost loan" under CFPB => appraisal and inspection become MANDATORYAnything less than this...that's your butt on the line.

That's why I stress the importance of building a relationship first.