@Cameron Tope750 hours is just one part of a two-prong test. 

Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors Require you to close before a tenant is in place

I am going to see if I can find financing partner.Per my calculations it exceeds 1% test and that's why I thought it's a good deal.

This is applied as a direct principal payment.Good test to see how easy they are to work with on household projects.This gets an early vested interest in the property, which is the primary principal of this plan.Require reading “7 Habits of Highly Effective People”Must create a habit of reading for 15 minutes every day until the book is done.This helps lay groundwork to understand much of the management process expected.

Lets see how accurate some practicing hard money lenders believe that is. 

@Reed Meyer - good luck, value-add is a tried and tested strategy.

Testing the waters?

@Ryan Austin, when you write "portfolio loan" are you referring to one loan that covers several properties (more accurately called a blanket loan) or a loan written by a lender who holds in it in their portfolio (as opposed to selling it on the secondary market)? 

That would be a fair deal for bucktown if numbers are accurate and it's actually within the border of bucktown proper (many agents lie about this)...

Is this accurate or am I up in the night?