@Ben BergHere is the process of renting a property with a roommate, focusing on cash flow, financial arrangements, and renovations.

Cash invested: $15,000 Renovated a commercial property close to college campus for a podcast/youtube studio.

There are companies that buy properties, renovate them, place a resident in the home, sell to an investor then property manage for the investor as well on the back end.

They can provide quick access to funds for renovations.2.

Yesterday it was an investor who wanted advice on transferring his property from one LLC to another once the renovations were completed.

The borrower's experience is important, but what's more important is the "Hard Asset," Hard money lenders rely on their due diligence process to determine the potential future value, review the renovation plans to get to that value & sometimes even the contractor.  

A home next door to mine is on market for $399,000 very similar to mine, just bigger. 3/1 renovated about 1300sqft.

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

For example they were touting a great value add opportunity on one building when I had already just completed renovations. 

Both of these programs they did teach you how to find and renovate a home..