You can offset this with points.When the lenders provides you with an estimate of the loan along with all the charges pay specific attention to:Origination fee - This is whereLoan Points - Sometimes they force you to buy a point and they bring down your rate in returnapplication feeunderwritting feeBasically you want to compare how much you are paying in all of these and what interest rate they are giving you based on this costs.

I have 10-15 years till retirement so want to grow now and will focus on cash flow at that time.

That would be my #1 rec, I know I'm biased as an agent myself, but what you pay an agent to sell your properties for you, is worth it if you have a good one!

If you live in the property for two years and want to sell, you won't pay capital gains tax, so that is just another thing to keep in mind. 6.

I have a friend that I just taught amortization to as he is trying to quickly pay off his mother's FHA loan to remove a co-signer, then cash out refi (yes, I explained interest rates right now).

You will certainly pay a premium for turnkey, but if your long-term goals are appreciation and stable yet modest growth, it is certainly advisable.

When you talk about path of progress that is important to upside/appreciation, but I place a higher focus on finding "value" from the start.

This sounds great, but keep in mind you now must pay capital gains on that profit.

Then once you close on the house take out a standard 30 year mortgage to pay off the hard money loan?

This takes the ball out of your court and lets you focus simply on your part of the transaction.