I have been successful in making wise financial decisions by adhering to this approach and avoiding typical mistakes.Work hard, work smart!

FHA 203K loans will typically require a 203K consultant to overview the project as well. your lender should be able to assist with this.

Typically, my roomies/ tenants become good friends of mine. we live together, build friendships over time, etc. so most things are done pretty casually.

Example: Purchase $50k, rehab $25k = $75k all in.

However, even with a judgment, your personal residence will typically remain safe.

For example, if the seller and their agent agreed upon a total commission of 6%, that 6% can be split evenly 3% to the listing agent and 3% to the buyer’s agent.

Typical rates are 8-12% of income either monthly or yearly depending on manager.

@Ruth S.If you are the borrower typically your private money lender drafts the agreementsThe docs we use are standard except for the security instrument as that changes by state as some states are deed of trust and others are mortgages

Commercial loans are typically shorter terms with a balloon payment at the end of the term and are more strict regarding the cash flow and investor/owner finances/assets. 

Quote from @Ryan Zimmerman: @Joe Norman What would be an example of the rate/terms I would get on a conventional loan to buy an investment property?