Congrats on this sick deal!

Quote from @Jonathan Bombaci: This year, our management company, which oversees 700+ units in Massachusetts and New Hampshire, spent over $209,000 on attorney fees, primarily related to evictions.

Costs will seem high relative to the loan amount on these smaller loans, $5-6k in lender fees isn't uncommon. 

Private funding from a relative may provide flexible terms and reduced financial risk, but formal agreements are necessary, and interest paid is deductible for you but taxable for them.Traditional investment property loans offer stability and tax benefits like deductible interest and property taxes but require larger down payments.

You can become free relatively quickly.

I'm still relatively new to this, and I’m looking to learn from those with more experience.

Thankfully this is not related to my previous posts.

Sorry, it is not simple.Also, not just any "business-related" hours count.

Rates that are too low relative to the rest of the market are a red flag.Agreed granted many of the HML have a sliding rate scale based on  ARV  and experience  and maybe a little fico in there. lowest I have personally seen was 7% and 2 points.. and of course junk fees.  

Commercial lending for real estate expansion is a relatively small demographic thus it flies below their radar.