Is this structure standard, though, in terms of capping investor returns at 12%?  

There are a high number of CPA firms that do not want to get involved outside of the FYI to their clients, and some state boards are saying that a CPA advising related to this registration is an "unlicensed practice of law" given it is not under Title 26 - income taxes - the only place where CPAs and EAs are specifically authorized to interpret law. 

These can sometimes have more flexible terms than standard construction loans, especially if you can demonstrate strong income through your bank statements.

It's not even 1x like a law firm or an accounting practice could be.Even with those you are lucky getting $500,000 exit for $1m in revenue

I guess my problem with being too up front about seeing their place is that I don't feel like I'm in a position of power right now to decline people since it's hard enough to find people that I want to even get to that point in the application process in the first place, but I have to snap out of that mindset and have to instead come from a place where I make them believe that I have a lot of other applicants and that it's my standard policy and it's something they'll have to go through if they want my place.....ESPECIALLY if I decide to only take 1st & security from them rather than 1st/last/security.Thanks again!

Although our license doesn't place restrictions on where we can practice, there is nuance to know within every state.

If the rental income doesn’t sufficiently cover the debt payments by their standards, they’ll limit the loan amount, even if the property is worth more.You could try a few alternatives:•Look for lenders who specialize in commercial real estate and have more flexible DSCR requirements.

I will sure check all available tools BP provides to learn and practice analyzing deals.

I suppose here is a good time to ask you all, the “more expert than me-s” in the thread: on a scale of “5% return standard deviation bond market” to “15% return standard deviation stock market”, where would you put the unleveraged, post expense rental income of a well managed (aye, there’s the rub) SFH portfolio?

Can anyone on there provide any figures for converting a standard fireplace to gas?