All duties will be split, however because he lives 1.5 hours away, I may Be more active with tenants/fixing issues that arise..

We've since fixed them up and everything is flowing smoothly along.

Hello,I am in the process of purchasing my first rental property (30 year fixed).

The goal of the wholesaler is to get distressed properties for rehabber a to fix it and do their thing.

In my experience a bank that gives out investment loans on 5-10% down, 30 year fixed interest is rare (I would even say unheard of).

I recently had some water damage to my personal residents and need a lot of work done to get everything fixed, such as kitchen cabnets hardwood floor and counter tops.

I'm looking for information from hard money lenders and folks who have used hard money lenders before:What, exactly, is the process for securing a hard money loan for a fix-and-flip?  

My banker has offer me 2 options.30% down 5.5% 5yr arm max 1% every 5 years 25 yr mortgage in my LLC orFannie Mae 25% down 5.75% fixed 25 year (maybe 30) but in my name, not my LLC.

A repair here, a fix there, I thought. 

The house needs a bit of updating, but I have been fantasizing about the idea of purchasing the property from them on a land contract, fixing it up, and then reselling it on a land contract.