I may also need to take out a small loan/line of credit to complete the house, depending on how far my money stretches. 

You actually purchase 65% of the new property with your cash and a loan for the $150K. 

I also found out on the day we closed the loan that they have no security deposit either.

Commercial loan through a local bank with 20% down.How did you add value to the deal?

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

My guess is  @Mark Ainley or @Bob Floss II may be able to provide you some insight.

So $1000 PI + 500 taxes + 100 insurance = the same as $1200 PI + 300 taxes + 100 insurance and when interest rates were 3-4%, 200/mo could buy you $50k more loan, so the house with lower taxes would be worth $150k vs 100k.

It would be great if someone could provide some clarification on the matter.

Hello BP,Inquiring for true Private Money Lenders for a fix and flip project in Houston, TX.I’d like to connect to provide more information about myself and the project.

If the lender defaults, will the fact that I purchased the loan as an individual with no licenses compromise my capability to collect/foreclose?