I would highly recommend hiring a lawyer to understand the eviction process and to help with the Rental Agreement. 

Types of investors who want to find hard money lenders include:Investors with high debt-to-income ratiosProperty investors who cannot get a loan from a traditional lender or bankInvestment property developers who need fast access to fundsCommercial property developers who need a bridge loan but cannot get one from a traditional bankSometimes, homeowners facing foreclosure may utilize hard money loans to avoid losing their homes.https://www.biggerpockets.com/blog/how-to-become-a-hard-mone...

With prices as high as they are and income not keeping up I think more and more families will buy property together. 

If the loan amount exceeds $1M, then rates are in the high 6's to mid 7's. 

Most likely the issue is poor surface water management, failing gutters or missing downspout extensions.

not much then go for it.. very important then you need to wrap it and stay in control.Would you consider the wrap even if you have high level trust in the individual?

The biggest mistake I see is to worry too much about the cost of things like lawn mowing and water bill and the exact percentage for vacancies, but not being enough aware of the general condition of the property - resulting in 20k, 50k or more in capex a few years down the road.My advice: look for a quality property that has all the big-ticket items already done.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

There will be big pressure on rents over the next year or two in Austin area due to the vast number of apartments coming online. 

High ROI How did you find this deal and how did you negotiate it?