When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

Part of this is due to marketing and pre-marketing of the home - an agent is your marketer.

This is the "dream" of many investors - retire with paid off rentals with cashflow to enjoy their golden years.5) Hard Money Lending (HML): this is actually an easy one.

The one guy I spoke with said they make money only when they sell to potential investors and they only sell new construction homes that are usually pre-leased to buyers (currently they are building in Texas state and Missouri State).

Part of this is due to marketing and pre-marketing of the home - an agent is your marketer. 

Pre '2010', maybe just maybe it will lean heavier on the fundamental mechanics than specific processes. 

Make sure to research lenders, get pre-approved, and calculate your potential ROI before bidding. 

If you choose not to rebuild/replace your settlement would usually be for actual cash value.It's unlikely you can get a settlement for above the coverage amount you paid for.

2) Are you pre-approved and have the down payment in your bank account?

@Kiryl Ulanovich,You're on the right track:Get Pre-Approval from Hard Money Lender – Know your terms and limits upfront.Find a Deal Through a Wholesaler – Verify numbers and ensure it meets your criteria.Review the Assignment of Contract – Confirm terms, earnest money, and contingencies.Conduct Due Diligence – This includes an inspection (if allowed), verifying ARV, and rehab estimates.Submit to Hard Money Lender for Final Approval – Lender will review title, contract, and property condition.Title Search & Clear Any Issues – Ensure a clean title before closing.Close Through Title Company – Finalize funding and take ownership.Consider also lining up contractors early for a smooth transition into renovations.