Listen to your guts, read, watch, connect and network with people and you will learn as you go. 

He then proceeds to say the tenants upstairs have 'destroyed' that apartment and it will need to be gutted when they leave, hey says they are filthy and have brought in roaches.

Why did you gut a house to make it a rental?

Trust your instincts...which are already telling you something. 

Desperation shows no shame sometimes.Stick to your gut homie.

When you zoom out and look at the big picture every rental property needs a total gut rehab every 30-50 years at about $50-$80 per square foot, which will long term wipe out all your cash flow and then some if you don't have corresponding appreciation to offset.I have been investing in Milwaukee for 15 years and it took me a while to see this pattern.

Further, there are a wide spectrum of lenders that can range from very good to very bad among lenders that brand themselves as "Private Money" "Hard Money" or "Private Lenders"Your best bet is likely to follow reviews and like you've been doing now with partnerships that you trust, but your instinct is right to have relationships with multiple lenders and options. 

BE CAREFUL OUT THERE AND TRUST YOUR GUT! 

Hello all, we are so excited to close on our first StR/ MTR that will be a complete gut job.

For a full gut rehab, 203k and Homestyle/Choice Renovation are out of the picture if you're wanting to do the work yourself.