But, we recognize that the experience you were having, multiple months without revenue and no clear time frame to be fixed, is not a typical experience with our company, and when and where we can help, we will.Our team didn't follow up as we said we would, so you asked us for updates instead of how we plan to operate, which is updating you proactively. 

There are tons of threads here on BiggerPockets where you have a new investor bashing a property manager, seller or turnkey guy and then when the experienced investors chime in it becomes very clear that the new investor wasn't telling the whole story and there typically wasn't any wrongdoing by the property manager, seller, turnkey guy or what have you.

Typically max leverage is 70CLTV - very higher Prepayment penalties and be ready for rates north of 12% - I answer this question all the time.

Typically the higher RE cost market will have the better cash flow (excluding an extract of value) over a long hold.  

The "typical" off market seller is someone who thinks their house is in too rough of condition to sell on-market, but doesn't have the money to fix it themselves.  

In southern CA, even garage conversion ADU additions are typically costing more than the value added.  

So, you are "earning" 5.16%/yr on your $73k investment, or have an 18 yr payback.  

Typically it’s a secondary use meaning the land must have a primary use (like a home on it).

Yes the plan is to reposition the asset to earn the $40K.

The typical term of this loan is 12 months and rates range from 10%-12%.