Also, split AC sounds complicated to the folks who have visited the property so far.

The institionalized players typically have 100-200 BPS lower rates than standard hard money lending players but they're clunky and have lots of requirements its almost like the instituional HML should be called "hybrid hard money or hybrid bridge money," because of all these requirements.When we're working with those instutionalized players we usually have to do almost as much work as a conventional loan (1-4 fannie, not quite but almost as much).If you'd like to learn more about the different options or get a sounding board on what options are out there feel free to reach out and we can talk shop.

It sounds like you want to buy a vacation home more than a vacation rental investment.

That sounds great!

When should I hire an attorney.It sounds like a lot, but you could knock out 1-2 of these a week and you'll have everything you need within a year.People always tell me they would never invest in real estate or manage for others because it's "impossible" to manage all the problems.

Mike,Sounds pretty close, but I maybe add a tweak.

You should also have been given copies of any rules that apply to their tenancy - even if they are month to month.For future reference, bonus points if you got a move in inventory checklist for each tenant before closing so you're able to document damages they're responsible for when they move out.However, it sounds like that ship has sailed.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Goal is to replace W2 income, initially. 

I didnt know the roof HAD to be replaced.