Most realtors do have at least a trusted handyman, if not contractor, who they leverage to help with pre-sale fixes.  

However, as long as there is no pre-payment penalty, nothing is stopping you from accelerating your payoff to save on long term interest.

Some banks may require longer, not sure.I currently have two mortgages and was pre-approved for another.Justin

Typically a buyer using hard money has already been pre-approved and only needs to show the numbers to the lender to make it happen.

This is not your run of the mill pre-approval.

Even though they did follow up with an actual rent roll.

- Nov/2013 Tairy (Cousin) decides to buy her first place, she got pre-approved for $150.000 FHA Loan.- By Feb/2014 after seeing a lot of ugly houses and apartments we found a 2/2 apartment, in a good area (very close to Miami Lakes in Miami NW), recently rehab, in a condo that had 2 similar units for sale for $130.000 this was nicer, cleaner, and $90.000- The deal was conventional only, so we found our way to get the down payment money (thank you family) and she closed in Mar/2014, $20.000 down, $8.000 closing fees and $70.000 mortgage.- She end up paying $570 a month plus $300 Association, water include.- The rent of one unit like hers at that moment was between $1.200-$1.400.What the heck am I doing?

Here are the numbers, tell me what you think:Purchase price - $399,9996 unit multi-family - gut renovated 3 years agoGross monthly rent roll - $6600 that's with 100% occupancyTaxes - $13648total expenses- 23,208 which includes taxes, maintainence,insurance,sewar/water.  

HML doesn't care if you buy and resell it for more just make sure you aren't in a costly pre-payment penalty.

Personally I charge $500.00 for a renovation bid as an investor pre-purchase tool which frankly is cheap considering the typical bid requires 3 hours or more of drive time and on site project inspections then another 2-3 hours of typing out a comprehensive bid that considers all desirable finishes.