Quote from @Yaroslav Shtogun: Hello Community,I am seeking advice on the following real estate situation:I’m in the process of purchasing a double lot property (100x100 in an RS-50 zone) that includes a 1,200 sqft wood-frame house and a 640 sqft detached garage.

This includes trips to properties for evaluations, trips to Home Depot, etc. 

Most hard money lenders require 10-20% down payment of the purchase price or total project cost.Holding Costs During Rehab: Yes, you'll need to cover carrying costs, including hard money interest, utilities, taxes, and insurance.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

The Creative Investor Meetup is designed for beginning to advanced investors who would like additional strategies when constructing deals.All aspects of real estate investing will be covered including (but not limited to) - Wholesaling, Flipping, Buy and Hold and Commercial with an emphasis on Creative Financing.

I also do not stop marketing unit including open houses until i have a holding deposit.  

If we upgrade to PB Pro, does that include a Stessa Pro membership? 

Amenities include, laundry, assigned parking, and wifi available for each unit.

. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

We typically pay somewhere in the range of $3500 for a new, basic furnance, including install, if there are no other modifications to the system required.