You don’t have to do that much (relative to many other types of business).But that’s a double edged sword. 

Sometimes it’s the hard money lender sometimes it could be someone elsePlease also note most hard money lenders also can seek a deficiency judgment which is the balance owed on the loan after it is sold at saleIf you are a borrower you can also work out a deed in lieu which is when you give it to them without going through this processWe recently received $200M in these types of defaulted loans to bid on, so we are starting to see and uptick in defaults.Memphis area had over 50 on the list.

@Chris Seveney i spoke to them today and was told they are not the proper dept to handle this type issue.

That would be a family and friends type of loan that you're looking for .

Hi Vince,It depends a lot on the type of program (Conventional, FHA, VA, Non-qualified mortgages) as well as the property and borrower.

Purchase price: $105,000 Cash invested: $1,000 Purchase Price: $105,000Mortgage/Taxes/Insurace: $800Management Fee: $100Rent: at least $1,300Cash Flow: $400🤑🤑🤑 What made you interested in investing in this type of deal?

BTW, you just said "next" to a nice young engineer who just got a new higher paying job and is an A+ type applicant. 

She has the contract stating I will purchase under my LLC, however now she is saying underwriting considers it a commercial loan and they don't do those types of commercial. 

Or is it a new property.2- what type of “renovation” speculation leads you to go from ARV $275k to $500k+?

Ideally, they would have access to a line of credit, or some type of loan for misc purchases.