We understand that most fix and flips are cash purchases or shorter financing such as hard/private lending, but are having trouble trying to understand if other investors ever use conventional loans to finance a fix and flip.It would be great for us if you guys and gals can shed some insight on if conventional loans are really ever used for fix and flips and if so what are the benefits and drawbacks vs. hard/private lending.Thanks for all the help!

Do they ever require an upfront fee?

Your chart of accounts can evolve over time as QBs let’s you add accounts on the fly. 

I’m new to truly investing but I have been around all types of projects.The first construction I ever did was to renovate my mom's unfinished basement and turn it into a recording studio.

Our restaurant scene has really been blossoming, we have anything you could ever be interested in when it comes to outdoors stuff, great wine community, theater, arts, etc.  

A few years ago I surgically eliminated the chance of me ever getting a child tax credit.

Have you ever bid at a foreclosure auction before?

If an audit ever comes up - I would just mention that the LLC is required to make the payment otherwise the property would go into foreclosure; hence is it ordinary and necessary for the partnership to make those expenses(and therefore qualified to deduct the expenses).

I never ever go to closing.

If you ever set up a website where you take your own secure payments, etc and are sure that no dispute will arise with guests, insurance, security deposits (which you have to hold in escrow accounts technically)... go for it.