Essentially, I wouldn't try to fix something that is already working adequately enough.

Both take the same qualifying paperwork 

Action over everything is essential in real estate. 

Essentially, how much should you prepare to bring to the table of your own money?

My question is, how do I go about giving them a price, going through the due diligent paper works etc.

My question is, how do I go about giving them a price, going through the due diligent paper works etc.

My intent is to use the hard money loan for the acquisition of distressed, non conventional qualified properties, then stabilize them to a long term conventional loan and pull out the forced equity (essentially BRRRR).The couple mortgage brokers that I have talked to have told me the following:1.

You now have what is essentially your break even price where if you bought at this amount you'd at least have no money left in the deal (refi) or have broken even (sale).

But maybe it's worth it to ask more questions and find out for sure.If you want to pursue it...make them start filling out paperwork...background check (like Matt suggested), rental application, current and previous landlord info, employment info, current monthly income, last 2 pay stubs.

I essentially thought of everything that could be set up ahead of time to drastically reduce the upkeep.