BP community, I have found a person who is willing to do private lending for my first fix and flip. The individual is going to fund 100% of the purchase.  From there I'll be funding the rehab.  We have already negotia...

Not saying there are people doing this but as you said I would imagine even more profit to that lender on the closing cost fees and of course the interest only payments he will receive due to funding 100%.

Hey Ben- this doesn't directly answer your question, but you've already received some good advice above.

But if they are seeking to hold a property for any length of time and want their cash investment back there are some important rules to understand with conventional loan:If you buy a property with cash (or with a HELOC) you can receive a cash out loan on Day 1.There is not a 6 month waiting period with receiving a cash out loan if you purchased a home with cash or with a HELOCBUT you will be limited to the amount of....Your purchase price + closing costs (costs when you purchased the home)OR75% of the “After Repair Value”...WHICHEVER IS THE LOWER AMOUNT (super important)These rules are important to understand so here are two examples:Example 1: If you purchased a home with $50k of cash, and put $30k of renovations into the loan, and the home was worth $100k. 75% is $75k and $50k is your purchaseprice.

Basically can send out an automatic monthly invoice for you, coordinate maintenance, etc.Someone at a Meetup was plugging their own PM SaaS (I'm in the Bay Area so this happens kinda often...) and they showed me a demo -- that also looked pretty good since they had Twilio integration which basically allows for you to push SMS texts out to your contractors, etc.

The concept you explained though makes perfect sense in applying funds received to utility payments and then rent to mitigate risk.

Any advice or accounts from previous experience will be well received!

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I received the disclosures in the morning with a stated 30 year fixed 5.0% interest rate (0 points) for a $70,000 SFR investment property with 20% down.

Luckily I have a text message showing that I would have to give notice to 2 tenants the night we were mutual as that was the last day within the state time window for MTM contracts.