My question is, where do i start; do i get a lender that will provide us with a pre-approval letter? 

This info might change based on you being in a different state than I, but...I've worked with a HML on all my deals and I would say get pre-approved first so you know they will lend to you and you can include a pre-approval letter when you submit offers, which is a big deal with the market so hot. #2 what really matters to the HML is that the project will hit their requirements on LTV vs. what they loaned you.

At a 5.25% APR on a 30 year note, we would cash flow $2,300-$2,900 per property in the first 5 years.

If so dont worry about a pre-pay the rates shold be about a point and a half higher.

This week I'm chatting with lenders, a new HELOC with similar terms and 1% lower APR.  

Unless the calcualtors take into account (Rehab Cost/ARV), simply combined AP+R for your purchase price, especially since HML's often limit their loans based on the percent of ARV (which already combines AP+R)Looking forward to your first deal!

In Calif I'm required to do a pre-move out inspection if requested but he did not give me 48 hours notice of the date and time (which I think is intentional as a pressure tactic).

I am wondering what your standard offer is to investors and how you structure that agreement.For an investor, I am looking at offering 7-8% yearly return + Equity share when sold or refinanced.For a lender I would be looking at a negotiable Fixed Rate % APR over 15 years (possible 5 year balloon if they desired)How do you structure your agreements? 

@Nur Al SharifOne other thing to consider is if the mortgage/loan has a pre-payment penalty.A pre-payment penalty is a fee a financial institution will charge you for paying the full balance of the loan prior to the loan pay-off date.Some loans have it; some don't.

If you are using a Hard Money loan of $60,000 and paying 16% APR you only make interest only payments ($60,000 x 16% = $9,600/12 months = $800 per month.