So I bought nails, three 8′ board on board fences, and rented a home depot truck for $200.

We have to get this nailed down by the close of escrow obviously.2) Our HM lender terms are: $375k initial loan + $100k construction holdback = $475k Total Loan, 10%, 2.5 Pts, 6 mth.

Remember that every property is different, (example owner pays water, sewer, garbage, landscaping, heating vs. tenant pays all those expenses; this can make a huge difference) so your best bet is to nail down as close as possible each line item in the expense column. 

If you prefer we can chat and nail something down. 

Hey @Ryan SladeI think @Dan Heuschele nailed it on the head.

Miguel,Nathan nailed it. 

I've been around houses/building/construction my entire life and a weekend of painting and polishing floors sounds relaxing to me. 

I polish and repaint, pay attention to curb appeal and all those things that bring in great tenants. 

I would definetely hold the note for few years if the math (that I am going to nail down!

Additionally @Larry Fried hit the nail on the head, $250k is at the higher end of the market.