Ron LeGrand was an auto mechanic, Robyn Thompson was a waitress, Dr.

Being that its a commercial loan there is much more emphasis on the income/expenses as opposed to what other properties are selling for in the area. 

Most contractors think that a mechanic's lien is a big deal and that they can use it as a high leverage point, but to the experienced investor it's really a non-issue if you know your way around the legal system. 

They are an additional remedy to the LL to make up for not getting the rent on time, and not a mechanism to relieve the tenant of the duty to pay the rent on time.  

I'd take a closer look into the mechanicals.

I've spoken to a number of conventional hard money lenders in my area who used to rely strictly on value, and now are putting more emphasis on other soft criteria.

(I don't) HML is a counter to that concept in that typically HML puts strong emphasis on the underlying property and less on the emphasis on the borrower, this brings a bit more risk.When we speak to investors who seek exposure to this asset class, we proceed from the investor backwards.

Very generically speaking, larger buildings usually come with increased barriers to entry such as more capital (or the need for partnering-which can be very good or very bad), an increased emphasis on your past "experience" as an investor, more complex asset management (especially if you are talking about something that is both REI and a business like Self Storage or other commercial endeavors).

He said that in Texas, there was a time limit on how long the mechanics liens could be filed, which was different for subs vs general contractors.

I'm curious, when you're flipping a SFH, can the owner DIY mechanical work and pull the permits himself the way an owner/occupant can?