Hi All, I'm in need or a reliable tool to use when underwriting short term fix & flip loans.

I'm feeling most drawn to a buy and hold rental investing strategy and like the idea of the BRRRR strategy in tandem with VA loans, basically refinancing VA loan backed mortgages to conventional loans once there is 20% equity in the home.

Hi @Vincent Plant,You've gotten some great advice on what to look for in a hard money loan.

I’ve been working with several lenders for DSCR loans, but I’ve found that the fees are quite high, with minimal benefit in terms of lowering my current interest rate.

Do the math at a 6% loan rate.There's a reason many apartment buildings have been converted to condos and sold.

Due to the popularity and scarcity of these properties in Nashville, it would be difficult to find a property meeting the STR requirements given a proposed purchase price of ~$300-350k.Additionally, your situation is a bit unique as it sounds like you may be living away from your primary residence more often than not, and as such, I also recommend you confirm with a lender whether this situation would qualify for this type of (primary residence) loan.

On the other hand, if you're aiming for long-term rental properties, getting prequalified with a lender specializing in traditional loans or DSCR (Debt Service Coverage Ratio) loans is key.

I argue that more money in the hands of the rehabber makes the loan safer.

these are construction loans 

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan.