Some will pre-fund the draws, others will reimburse the draws based on receipts and photos of the work done.All beginning flippers should use a broker such as myself.

Depending on your municipality, you will need drawings, permits and approval of use and c/o before you can rent out an additional unit.It's possible that your town/city does not allow 2-family units where your subject is located.You would be wise to go downtown and speak with the zoning officer and the licensing/permits inspector BEFORE you start any work.

If investors, then you need to bill the property for labor, whether or not you collect that each week or not is up to you, but you want to make sure you are compensated for the work you are doing before the profits get split with investors.Beyond that, I don't draw loan proceeds, particularly from a hard money lender at 10-12% for cash I don't need.  

When you have a "vacant building" violation, the city almost always expects to have some drawings submitted and a permit pulled.

U can do escalation and then with draw if you don't like where it went to.. nothing wrong with that then they will take the next in line.. keep that in mind. 

HELOC's are cool because they don't accrue interest unless you draw on it.

Especially for someone drawing a pension, because that means they are older and should have some credit history at that point.- Rent is $1600 so usually you will use 2.5 X or 3 X rent as income guideline.

Hi Justin,My thoughts below...What I have gathered so far is that while they can do 100% financing, 100% Rehab, that usually is not the case.You are correct. 100% financing is quite rare within the hard money space, and even when it is presented as such, there is basically always still some capital outlay on your part.100% rehab financing (financing 100% of the rehab/renovation of the project) is fairly standard, but this is done on a reimbursement basis, such that you will need to float the first construction draw amount.Can anyone with more experience, tell me if I'm on the right path?

Or pay an attorney to draw up a contract4.

Who’s offering these arms and what are the expected interest rates or draws?