I suggest you develop a fairly detailed scope of responsibilities for that PM, including how often you expect him to be there and exactly what kind of interactions, inspections, reporting and other activities & responsibilities you expect of him. 

It kind of concerns me that he bought it at 125k and is selling for 90k a few years later.

This gives me pause because there could be all kinds of shenanigans going on behind the scenes (i.e. what if the borrower has some kind of relationship with the wholesaler and has no intention of renovating the house?).

I'm curious to know what kind of action you would take?

Thanks for the kind and inspiring words.

The one lender I’ve spoken to so far told me my rate would be 5.875%.I know I’ll find out once I start talking to other lenders and shopping around, but is this a reasonable rate for this kind of loan?

Kind regards,Daniel Golub

With that kind of quick decision-making to head off analysis paralysis, you'll be a great voice in the forums!

Hey MartaGood to see you are in real estate.Am also in real estate but in DC and surrounding states.I do all kind of real estate.There was some one I know in that area.

Savings: $950/mo x 3 monhts no vacancy = $2,850I am just kind of helping you consider your options.