I would be very cautious of a house that sits vacant being a target for burglary even in nicer parts of town, not sure the draw for str in that area.

My partner actually lives in the area that we want to invest in.The long term plan is to just use this as a buy and hold.We were planning on splitting all the repair costs.Great insight though, I think we will have to go back to the drawing board and see what type of property would truly benefit both of us.

I would ask them to provide receipts and a detailed letter justifying the 1000 and then have the lawyer draw up the legal stuff.

Hello,  Does anyone know of an architect in the Cleveland area, specifically Westlake that can draw plans for a home remodel?

Thank you for the advice @Bob Stevens I will definitely draw upon this moving forward and think about my moves with this in mindCarlosQuote from

Looking for insight into borrowing money to cover down payments and floating capital between renovation draws.

Some would say a lawyer should draw them up - which makes sense.  

I'd have interest in facilitating these types of deals and paying you that fee that's nothing for the value you are bringing if you really are. that's about 2 points on a hard money loan which isn't a lot, if you are flexible on payment structures we'd pay you out of construction draw proceeds each time we receive money we pay a portion of your commission back

It can be risky and if you yourself get into a situation where you have a loss of income, having a HELOC can be a saving grace whereas ifyou pull from it for a home and then cannot make the payment they will not allow you to draw on it.For me, all about risk and risk tolerance, - which doing this for me adds a significant layer of risk.

When you request a rehab draw, the lender will search for mechanics liens and see the second mortgage.