When shopping around I advise my borrowers to have an updated copy of their Credit Score with all 3 bureaus.

Although, in some cases, based on employment and such, they will ask the potential borrower to provide the past two years NOA (notice of assessment) to confirm that no taxes is owed and to confirm tax returns.

@Scott Runyan brings up an excellent point regarding net worth/liquidity and it's even more important when the borrower does not have previous 5 + MF experience. 

Do you have money in reserves, borrowing capacity, other sources of income?

The seller had borrowed money from his now deceased mother for the home.

According to a research from Freddie Mac, the average borrower could save $1,500 just by getting one extra rate quote when applying for their mortgage.

If a borrower has less than 20% of their own cash into a property (as down payment, and/or rehab costs) then it won’t work for us.If your guy put about $30k or so of his own money into that deal(down and/or rehab), we can get him cash out in May (6 mo for Hard money long term {borrower took out loan in November, 2019}).

https://www.biggerpockets.com/member-blogs/12714/88841-investment-waterfall-structureHeydanAm I right that based on the payout structure in your article, 8% preferred return is really not 8% interests (as if I lend $100K to someone and I get 8% interests, I get $8K back per year, and the borrower still owes me $100K by the end of Y1), but getting 8% of my invested money back, correct?

I don't want this to have a drastic effect on my ability to continue borrowing in the future so I'm trying to figure out how to hold this asset appropriately.Your insight in any of the above is greatly appreciated!

Hello Lenders and Borrowers:  I'm seeking various examples of term sheets from experience lenders and borrowers.