Interesting you bring up Edward Thorpe, now you are talking about a whole different career ... gambling:)

Getting started, there are always so many questions! I tried to find a list of "estimated" costs for standard rehab projects but I haven't found anything that is very comprehensive. What I'm hoping to create is a...

However, you always stand a chance that a portfolio lender, such as a local bank or credit union will have some flexibility within their guidelines.

Most investors utilize the Blanket Loan because the investor is capped by the conventional Fannie Mae guidelines.

So far the properties I have seen are not vacant or in need of major repairs.I don't want to offer too low and blow out a potential deal because of guidelines that may not work in my area of the Central Valley.Iv'e read the opinions of the heavy hitters from Southern California (Tim G, Aaron M).

It was the best thing for my career because I learned how to read guidelines, how lenders work, spoke directly with underwriters, learned how the secondary market affects origination, basically everything there is to know about doing loans.

We plan to get an umbrella policy that will cover these new properties in an amount equal to the value of our current assets, does anyone have any guidelines or links to how best to handle this?

There's nobody else to interfere and no lender to have issues and delay the closing.When you say this other investor is coming into the deal with you it means that they have given you a set of guidelines about what constitutes a deal.

Then, properties 6-10 will require 25% down.When lenders require a larger down payment for a Conventional loan this is called an "overlay," meaning that they do not underwrite directly to DU or LP Pure guidelines (which is all that's required for a loan to be sellable to Fannie or Freddie).

(probably I could get a heloc after Aug/14), but not sure yet; the bank guidelines sometime is so difficult to follow.