These are generally 12-24 month interest only loans that borrowers will generally pay back by selling or flipping to long term financing like DSCR loans.More on DSCR loans:DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I finally made the decision to invest in a lawn mowing robot and I was able to use my 3 extra weekend hours to actually focus on my businesses or do other things. 

There are a lot of details you haven't filled in in this post (which is fine), but you will likely need a key principal to co-sign loan and a contract with an experienced property management company.The key principle will co-sign the loan to help show the net worth and liquidity needed for the underwriting department.  

IF Tom has time he can explain in detail :)

Just get extra insurance and call it good.

I will send you a DM John, as everyone else mentions there are a lot of details to fully answer your question. 

Maybe someone with more experience can step in and go more into detail?

Bet not:(You should ask them for detailed explanation of what they are doing and what the collections company is doing!

Talking to a few agents.Can someone guide me on the seller's closing cost details? 

So like the example you gave, there are fewer lenders doing 75% ARV, but many more lending down to 70%, so at that amount there might be more options.I hope that helps, would be happy to jump into more specifics with some more details about the flip itself.