Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

@Anthony Dupre Why are you so concerned with anonymity?

- Legal and Regulatory Concerns: Are there any local laws or regulations in Fredericksburg, Virginia, that I should be aware of regarding pets in rental properties?

Can't you come together and figure out a solution where he returns and addresses your concerns and collects the $2K?

I know that my COC my be lower, etc but my main concern since its my first property is being cash flow positive.  

By this I mean the liability event that has you so concerned. 

Depending on where it is, your biggest concern should be will the new furnace, AC and hot water tank will still be there after you close.

It has caused problems not just with housing, but health care.

If you don't have the additional mental bandwidth, can't deal with stress in healthful way or do not have much time to commit atleast 14 months of focus then do not build.

My main concern is whether it's hard to meet their criteria for properties and secure funding.