The challenge is knowing how to scope out the renovations properly and understand your construction costs. 

Kalamaras, we were ready to close your file, we needed to change Title Companies as your Title Agency was refusing or could not add proper endorsements because of their Underwriting Insurance Carrier.  

Also, in regards to a per diem, I'd like to be a bit more optimistic that I can establish the right checks and balances to ensure that the contractor is not skipping corners.

Quote from @Scott Tennell: For real estate investors who have worked with private money lenders, what strategies have you found most effective in structuring deals to ensure both parties are protected and the funding process runs smoothly? 

I am orginally from Elgin, but living down in Logan Square area of Chicago proper!

If rates improve slightly, a cash-out refinance could lower your mortgage rate, but ensure the numbers work with your long-term goals.One thing to consider is your return on equity (ROE).

So, they got taken advantage of.4) They didn't do enough research on comparable properties before doing repairs - so went either overboard or slumlord, instead of properly Maintaining to the Neighborhood.The other challenge we encounter often is investors expecting perfection.

Sometimes, you need to be very specific and provide all the details to help them properly investigate.

You must give proper notice before each showing, you must give the renters the opportunity to buy the house first, and the new owner will have to honor their lease if they intend to stay.

Can anyone recommend software which would accept monthly payments (from me to seller) and create proper 1099 forms for tax purposes at year end?