When vetting a hard money lender, ask about their interest rates, loan terms, and fees (origination, prepayment penalties, etc.).

Originally posted by @Stetson Miller:Hi @Shane Gorski,You're absolutely correct regarding the difficulties of STR's in Naples, there certainly are a few other local cities that are much more conducive to that strategy, Bonita Springs, Cape Coral, and Fort Myers Beach being a few of the major ones.

I’m from Huntsville originally and work within the Tuscaloosa market often.

Its up to the buyers agent to submit their commission desires on the original offer . .

Now, with me being back I'm returning to my original plan of wanting to house hack in the Greater Boston Area.

Can I leave them off of the original purchase since they are gifting me the money (6 figures) or do they need to be on the original deed and then when I get the mortgage remove them?

Originally posted by @Lane Kawaoka:Nick McCandless Andrew B.

Review the quality of the tenant base (do they have a history of paying on time, what were the original screening criteria, do they have applications on file).

You might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

The actual penalty varies but it's often a step down or if a 5 year prepayment penalty term, it will be 5% of the original or unpaid mortgage balance if refinanced or sold in the first year, then 4% in the second year and then on down (the exact penalty varies which is why I mention both the original and unpaid mortgage balance.