if a PM has a % on repairs or rehabs, higher or lower or even doesn’t have (but its vendor recognize a 10% under the table) their interest will go thru bringing and finding repairs to do.If PM will be in charge of the finance and keep the budget aligned, it wouldn’t be the one who handles/hire/have interets in any expenditures.

I would suggest you save up as much as you can while you are doing your homework to be able to bring to the table when you find a deal that you want. 

Some people want flash with hot tubs, pool tables, swimming pools, kayaks, and brand new.   

As for the fee of pulling permits, here is a permit valuation table for LA for reference.http://ladbs.org/LADBSWeb/LADBS_Forms/PlanCheck/bldg_permit_valuation_table.pdf

I’ll start out.....My first hard money loan I took out September of 2017. 12% with 3% points to the broker at the table. 1 year with extensions available for 3 months with 1% fee.

Hey guysI started to do section 8 and i have a question lately i feel section 8 no paying according to the table sheet they have online in government website, they having appraiser do comps and paying as regular long term rental maybe a bit more but not tremendously. i called them , emailed and all but that is their strategy now , so i asked why they put wrong info on website, seems like they want to lure Landlords lol ..for example https://dhantx.com/wp-content/uploads/2024/01/FY24-Payment-S...You can see zip code 76227 with 5 bedroom showing $4921 (less bills $500) so its $4221.but actually people getting $2800-3000 how come it is ?

Find someone that brings to the table what you don't and partner with them.

No lender fees were added between your last talk with Michael and the closing table.

If you plan to operate this product, you still need to have cash to bring to the table as well as enough liquidity for rehabbing (you can get reimbursed through draws, but you start out using your own liquid).

That will pretty significantly reduce the net taxable income amount.The net taxable income is then run through the trust tax table, which actually tops out at 37%, but on a graduated scale.Your vague "profit" number makes it impossible to provide an accurate representation in this scenario, but I suspect the net taxable amount would be considerably less than how you are evaluating this.