I am not sure if the BRT abides by strict adherence to the 4:30 PM cutoff shown in the instructions. 

We had a third party report done for our prior offerings (similar to how a mutual fund has a third party verification report to verify the returns). 

"Evicting" squatters who were allowed to live on premises from prior complacent owner was interesting to say the least.

He collected first/last/security payments prior to move in date and was never heard from again.

When the houses were just acquired it usually took me two to four weeks to get a tenant in them though I had some that were rented prior to make-ready and renovations being done, that's happened a couple of times.  

Don't take their unofficial advice as gospel, so do appropriate due diligence prior to making changes to the property. 

Bank would want 20% down (200k) and the State on board prior to releasing funds for buildout.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

This is an ACH deposit, and must be processed prior to any bid at auctions. 

I’m mainly concerned about the rate change happening without prior notice, especially since both loans started and are closing on the same day.I’m scheduled to sign tomorrow and close on Friday.