and exactly how much is needed - even if 100% construction financing, there will be interest & closing costs, insurance, plus often fronting the construction costs before the draws are disbursed, drawings/plans/permits that may not be covered by lender's loan...  3) Agree who will pay for any budget overages.

Also easy on documentation (much easier than DTI & other income-based loans), the interest rates are better than the above short-term loans, but not as good as conventional loans (that require DTI and income etc).Most cash-outs aren't greater than 80% of the value of the property.Estimates:HML Loan - 8-14% interest only, short term loans, limited documentation.Rental Loan - 5-9% amortized, 30 year (some options for 15yr), a bit more documentation.Local Credit Unions and banks - 4-8% amortized, 30 year (some options for 15yr), documentation varies but typically requires some debt-to-income.Conventional Loans - 4-6.5% amortized, 30 year with options for 15, documentation heavy.

Or can these figures be covered by your lender?

The irony is 95% of investors are not full time....meaning they have W2 income to cover expenses...and living off cash flow from RE alone is very risky (you must have other revenue streams). 

Cash in advance can be a cover up of a problem, but I have also rented to two tenants that paid cash in advance who were both great.

Just looking at the exterior, a lot of money needs to be put in this building, which we hope to be covered with our mortage loan.

Just looking at the exterior, a lot of money needs to be put in this building, which we hope to be covered with our mortage loan.

It is very cheap and should cover most, if not all, liabilities. 

Just want to make sure I’m covering myself before starting on a different system. 

The oil burst up onto the walls and ceiling leaving a residue covering a large area.