. ;-) Thank you again for sharing your story, and congrats for doing something that may not have been “the popular choice,” but without-a-doubt was the fastest and most effective.

You do not have a choice. 

Compared to hard money, its better rates, longer terms and lower fees.Hard money has its place though, if you need to close really fast and if you haven't had 2 or more exists in the last 24 months, then hard money might be the better choice?

A borrower will find you and come after you4.

Best Choice Water Heaters charged $2k including a small amount of plumbing.

Here is something I found on a home guide website...Landlord CoverageMortgage lenders want evidence that the borrower has sufficient coverage (at least equal to the mortgage loan amount) that protects the property itself against fire, wind, water damage or other named hazards that might decrease the value of the real estate.

And selling for 69K There are pictures and it is in decent shape  Would you reccomend and appraiser  , inspector  to help me make a better choice  and PM company to run it smooth.Any advice appreciated  Nikolay Voronovich 

They request what is called an “as-repaired appraisal.”To give a general picture of how the as-repaired appraisal fits into the process here’s a very basic look at the steps involved in a standard 203K loan, sometimes called a Consultant K* loan:The borrower selects a property, a lender, a 203(k) consultant and a general contractor.The lender pre-qualifies or pre-approves the borrower, and determines that the property is eligible for a 203K loan.Working with the consultant and the contractor, the borrower submits a document that specifies all repairs.The lender requests an appraisal.

This shouldn’t be too much of a time commitment and will get you more comfortable with your market(s) of choice.

The break even BRRR I mentioned in Charlotte might be a good choice, considering cash that you actually need is only 5-7% of ARV after BRRR.