@Chris Seveney @Nathan Gesner The owners offered to cancel their lease and return their security deposit in full.

I position my inspections as 'planning for future repairs/improvements' which mitigates that whole 'he's here to get my security deposit' mindset.And, I would rather have the tenant with me than to have him later claim that something was broken during the inspection.  

What is the security on the above?

I understand this is a good way to become financially secure over time and am eager to start.  

It does sound to me that a lot of that work should have come out of the tenants security deposit 

I was thinking more of like either refinancing my current VA loan or getting a HELOC and using the equity I have to acquire rentals and potentially doing the BRRRR method to recoup my initial investment.

If I had a bunch of houses and hired a plumber to fix a leak in the first house and he “fixed it” then six months his method fails.

Hey Cecil, if you have the capital to operate locally, and it fits your goals to do so, I highly recommend doing that.Congrats on securing your primary though.

Encourages Larger Investments: By offering higher returns at higher tiers, you incentivize investors to allocate more capital to your projects.Builds Long-Term Relationships: Investors appreciate being rewarded for deeper commitments, which helps foster trust and repeat business.Scales with Your Business: This structure can align with the complexity or scale of your projects, ensuring that you have the resources you need while staying competitive in the market.Key Benefits to InvestorsSecurity: Deals can be secured by tangible assets, such as a deed of trust or promissory note, providing peace of mind.Flexibility: Payments can be structured to suit the investor’s needs—monthly, quarterly, or upon project completion.Attractive Returns: With returns starting at 15%, investors often see better yields than traditional investment vehicles, like stocks or mutual funds.How We’ve Implemented ThisThis structure works particularly well for our large renovation or development projects where multiple investors may be involved.

It is the interest rates at which banks lend to each other and is short for Secured Overnight Financing Rate.