The next step would be to begin talking with lenders near you and see what kind of lending terms and rates you are able to qualify for.

Figuring out who my target group was helped me get the right investors and form long-term partnerships.

Key things to agree to The interest rateamortizing or interest only loanLength of loanLength of amortization (does not have to be the same as length of loan if there is a balloon payment)When are payments due; monthly, quarterly, annually at the end of the loan etc.Are there any upfront points to be paid and other misc terms like late fees.Then have an attoney create a Note and a Mortgage (or deed of trust depensing on the state)

Meaning it may not be a traveling, nurse, but definitely a shorter term lease.

Hi Ambrea,To get into fix and flips, I started by focusing on a few key steps that helped me find success:Educate Yourself: Learn the market, analyze property values, and understand rehab costs.Build a Network: Connect with real estate agents, contractors, and lenders.Secure Financing: Consider hard money or private loans for quick capital.Find the Right Property: Look for undervalued homes in growing areas.Create a Detailed Plan: Budget carefully and have a clear timeline for renovations.What worked best for me was staying disciplined with my numbers and always having a solid team in place.

Open a personal account, use their banking services & if you can demonstrate a track record of executing on the real estate loans they fund for you, these relationships can really accelerate your growth.

Curious of a few things for those that execute this strategy currently:-The city the property is in has a no more than 4 unrelated people rule, would that be an issue for me if all bedrooms were full or does the fact the basement tenants would be short or medium term save me?

I'm a residential loan officer and I have a client who is taking out a loan (not through me) to buy a wharehouse for their business.

C-Corps usually aren't a preferred structure for real estate.I know that with a self directed IRA all of the income has to come back to the IRA - read another way - you can't take the profits from your investments and access them today (so no passive income that you can utilize in the near term).  

Conventional Loan with 3% down.