good day https://www.realtor.com/realestateandhomes-detail/...

I am looking to loan some money to an investor to flip a SFH and am looking for some of the details regarding documents required in Illinois. 

I'm not so familiar what the steps are to do that, or the detailed mechanics.   

If you add some more details on the financials for the deals and what state they are located in and your credit, other BP folks can recommend some lenders for you potentially.

@Kyle Mitchell1) I like podcasts that focus on tools for success (practical) or lessons learned form mistakes (detailed).

IF THEY WANT TO TAKE UP AN EXTRA 20 MINUTES OF YOUR TIME AND JUST TALK, BE A DECENT PERSON AND LISTEN.This guy was an old-timer, well-off and he said he just liked us because we confirmed times to show up for viewing the house and never tried to act too cool for the property or totally low-ball him.

The one thing the commercial loans do not offer is the 30 year fixed at a rate competitive to a conventional non-commercial residential loan.Hopefully someone with more experience on commercial loans could provide more details. 

I am going to include my real scenario with as many specifics as possible so I can get the most detailed advice, I could use it.

If you message me some details I can keep you up to date with real-time information as we figure out this fast-changing situation. 

Hey Tate, here's what my commercial lender @ US Bank uses for pro forma debt coverage calculations if he doesn't have 2 years and YTD historical data (basically, seller's schedule E's)Vacancy: 10% of gross rents, unless there is sufficient market data at the bank's disposal to justify lower vacancy rates for the type of asset in question, OR detailed historical vacancy data from seller.Management: 3% gross rents or actuals, whichever is higher, with property management agreement provided to close.Cash Reserves: 3% of gross rentsTaxes: Actual data used.Insurance: 3% of gross rents, or as shown by insurance policy.Operating reserve: 20% - 25% depending on the type of asset and amount of historical data provided.