The workers are great but under trained, over worked and under paid so getting timely communications, complete answers or clear next steps is a challenge to say the least. 

In other words, you need to complete the work to receive the funds (you need to have money to cover the time between the completion of the work and the receipt of the draw). 

And you're seeing that in the headlines now as Detroit "dethroned" Miami as the highest appreciating market recently:https://finance.yahoo.com/news/detroit-dethroned-miami-faste...Happy to chat about my experience there or send some resources that might be helpful. there's a zip in miami we have been looking at for development deals (33138) that is unbelievable. like 30% appreciation. we underwrite about 14% in Miami for deals. imagine starting a 10 million dollar build that is worth 20 million on completion and it goes up by 14% when you are building. unreal 

I recently got multiple red tags on a property for unpermitted work that was completed by previous ownership. 

Now, I have completed three transactions, which allows me to be independent without a team.

@Quiche LynnI think your confusing the term noteThe note is a promissory note - meaning the document that she signed stating she will pay this person this much money.What it sounds like is she wants to send a settlement offer to try and renegotiate the deal?

So basically, I will complete the 2 out of 5 rule in 2025. 

My situation sounds exactly like yours.

Rate went back down to 7500 upon completion of the work and 2025 is a safe bet now. 

I have several BRRRR's that I've completed over the course of time and as I'm sure many other long term buy and hold investors experience, I have several people wanting to "invest with me" or in my deals.