POF from HML should simply state they reviewed your financials and subject to title and values they are prepared to loan X % against any property you find. 

Be prepared for projects you act as GC to take your time and not necessarily save any money.Good luck

I'm asking for your help in the forums to see if anyone has been where I'm at and what you did to prepare yourself for this endeavor.

(So grateful to this owner; he spent 40 minutes on the phone with me preparing me for a big patch job that results from a rewire).

New to real estate and looking to network/connect with individuals (throughout Illinois and surrounding states) as I prepare to purchase my first property.

I don’t try to angle for either direction and just present the options of a purchase and an option of listing and what goes into each for preparations, timeline, responsibilities of the seller, expected payout, etc.

You might want to invest $50 or less with a legal service to have one prepared. 

So I am preparing for that potential scenario by securing long term low fixed rate positions while I can. 

@Jillian Sidoti has mentioned in the past that if you are raising $500k or more, its best you prepare those documents and stay compliant. 

So how do I prepare my finances?