Im considering drawing the cash from retirement savings, they hold 20% for taxes.

This includes things like origination points, fixed fees, draw fees (from repair escrow), required 3rd party fees that other hard money lenders would not require (e.g. certified appraisal, legal fees).- When are the points & fees paid?

Good luck, and next time have a professional property manager draw up your lease for you so you have better options.

An attorney should be able to draw it up for $200-400.Best wishes.

I would really rather avoid doing this, as from what I've read it can be a hassle dealing with construction draws and I want to keep things as simple as I can for myself in the beginning.

I'd again suggest listening to the BiggerPockets Podcast though because you'll get all sorts of ideas and stories from which to draw both inspiration and an action plan

Have him/her review or draw your applications and tenant/buyer agreement.Finally, if you or your company are not the title holders of the property then you need a brokers license. 

Usually the lender will pay on a draw down method through an escrow.  

His post rehab appraised value will be about 5-6 times the amt of our loan and his single tenant will cover most of his carrying costs once he puts it in service.I would structure the loan such that he receives it in draws based on completion of the remaining rehab.We will be meeting with a mortgage broker soon to ensure he is pre-approved for the expected refi mortgage with my loan taken into account.Issue remains that it seems we won't be able to write it as a recorded mortgage.  

So, I'm back to the drawing board.