Most of it is generally refundable but a portion is offered up to be non-refundable as a show of good faith that you will close on this deal, as certainty of closing is very important to the seller.

These are vital in the case you ever have to retrieve the asset through judicial/non judicial sale.

In your case, with a duplex, at the time you sell it (perhaps even to a company controlled by you), you will not pay capital gains on the portion (presumably 50%) which is your primary residence.

You may find that at 12%, you are paying a relatively low amount for the high risk loan.Second, with the hard money lenders that I deal with, they are willing to fund a substantial portion of the rehab costs as well.

Anyway, since I'm still getting start I perform a share of the rehab work on my own and contract out larger portions.

You could add an essay portion to your tenant screenings.

We also collect a nominal application fee ($20) which covers a portion of the cost of the checks we perform.

No UT has plenty of growth, colleges are booming in attendance, economy is strong and the vitality is still high, imo.

Primarily access to the MLS is a vital tool.Good luck - Ned

In fact, if you look at the very long term, which I do, you make money four ways in real estate:Appreciation (think holding 20 years or more, wealthy families never sell anything)Depreciation (tax savings)Cash Flow (the income when all is said and done)Equity Build up (tenants are paying your mortgage, and a portion of every payment is paying down your loan and building equity)When you add leverage to that, it's killer.