Account Closed Underwriting yourself, developing your own tool kit (if not tools) and developing sophistication around what you are doing (that comes with education, experience and networking). 

These typically are not sophisticated sellers so trying to explain a lease option and how it benefits them is much harder than "look, deed the property to me and I will give you a little bit of cash and take over the payments for you."

Management - underwriting requires you to run a 5% line item expense - that's for MANAGEMENT, Payroll is a different line item, and that is what you pay the person to be in the office and lease units.  

However, you have to appreciate the public's perspective: we are the sophisticated millionaires, and they are not.To a certain degree, the board does protect us.

Then, if I was the seller, I would open up my books to you.A ten unit unit owner doing self managing might not be a sophisticated seller- sometimes you have to work within their confines and squeeze info out.

Depends on your level of sophistication with a niche.

Specifically because the unit count/cashflow doesn't justify having someone on payroll. 

ANNUAL COMMENTS Rent 3,000 36,000 Electric/H20/Garbage 1,400 16,800 Telephone/Internet 155 1,860 Insurance Liability 225 2,700 Sales tax on rent 315 3,780 Employees / Payroll 6,500 78,000 POS Ruby 500 6,000 Misc.

A private money lender is usually less sophisticated and often knows the borrower personally and uses more generic docs and they don't tend to lend their money professionally.Those are the main differences that I see between a hard money lender and a private money lender.

We always test the water when a well is involved, most water testing labs have a selection of tests from very basic to sophisticated, almost like a Chinese menu.