Essentially, you have to spend your own money and complete work on the property prior to reimbursing yourself out of the escrowed rehab budget.The draw process typically takes 5-7 days from initial request, to scheduling an inspection, and finally for the lender to wire those funds to you after your work is confirmed by the inspector.

He has a vacation scheduled, but otherwise maybe 5 to 6 week effort (plus live-in may add some complexities)) .  

Schedule a claening crew for tomorrow and get ready to re-list it.Good luck! 

Have contracts that provide working days per task and include the overall construction schedule.

With my last post about 1week ago I’ve probably had 80 inquiries, 20 of which have turned into people interested in viewing the unit and of the 20 that scheduled showings about 10 showed up.

I setup my entities and it takes between 15-30 minutes to do the online applications.Ohio Domestic Business Entities Fee Schedulehttps://www.ohiosos.gov/businesses/filing-forms--fee-schedul...Ohio Foreign Business Entity Fee Schedulehttps://www.ohiosos.gov/businesses/filing-forms--fee-schedul...Looks like it is an initial $99 fee either way. 

Assuming it will be Single Member LLC (you as a member/manager), it will come back on your schedule E anyway, so only thing you loose is $800 in california and bit more of paperwork but that preps you for future.Note - this is a very high level advise and mostly a personal preference. 

Though fee schedules vary by company, generally speaking, you'll pay more up front for checkbook control and less over time, since the full custodial companies will have transaction fees not to mention the red tape of going through the custodian for all transactions. 

Over time, this can even help you pay off your mortgage several years ahead of schedule. 4. what about asking your lender for a loan modification?

Multi-families offer more cash flow potential than single-family homes and are often easier to manage than a BRRR, giving you the chance to grow without the same level of involvement.Given your busy schedule and family responsibilities, a single-family or small multi-family might be a good start, letting you get familiar with property management while earning stable cash flow.