I've seen many investors get burned because they failed to understand their hard money loan terms/rates, even if they did acquire what should have been a home run deal. 

Each program is a little different so it just depends on your situation and income.They are quick and easy though once you get your certificate you can work with any Bank or Lender that is approved to use those DPA's.

It is the interest rates at which banks lend to each other and is short for Secured Overnight Financing Rate. 

This means a deep dive into your Internal Rate of Return ((IRR). 

New-home sales hit a seasonally adjusted annual rate of 698,000.

@Jonathan LudizacaIt really depends on the market.

It can get pretty expensive what would anyone suggest or should I write the lease so that the next tenant depending on time of year should I do not include a specific utility and adjust my rent because of it ? 

For a quick turnaround during the holidays, that rate might reflect premium timing.

2. don't use an appreciation rate.

As for your ques if to wait, well, it depends on the market, in some parts of the country prices are still going up, slower, but still going up, other parts the prices are coming down, you know that area, what is happening there?