Essentially, terms were prime +1 interest only for 12 months with only 1 discount point.

Horrible.The REIT is essentially a "blind pool" investment.

But yeah, essentially what others have said above.

The GP was so open and transparent every step of the way with the different types of insurance that were essential, adjusters, replacement cost, debris removal, code upgrade, etc.

Now they're saying there are two strategies after doing this flip: 1) Flip it and get the cash 2) Turn it into a rental (essentially a BRRRR). 

This is essentially a cash-out refinance post-closing. 

It's not a good combination comparing oneself to something that is essentially extremely "better" (extremely easy, extremely successful, extremely lucrative) 

Hi tax pros - I have a question about REPS status.First, selfishly, do you believe that my job as CEO of BiggerPockets, which I spend obviously spend essentially all working hours on, and dwarfs activities involving my real estate portfolio (which is managed via a property manager) qualifies me for REPS status?

Lots of good advice above- I think an active, professional network of pros that know and trust each other is essential.

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.