This is how most hard money works now Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

No, in fact, in texas, a sellers disclosure is not required to be given for residential multifamilies  

Congrats - at the end of the day, learning all those lessons really require jumping in and "doing" and making the actual mistakes - no shortcuts and way to "learn" these by studying endlessly without making the leap

For SD IRAs custodians are required.  

When the property is refinanced a year later, after it has been owner occupied for the required amount of time, will the rate then increase to that of an investment property?

All of these things would require you to see all of his financials on the property and then be able to calculate it all out.  

Out of state is a crap shoot—you are putting a lot/all of the execution out of your hand so it’s dependent on you being able to identify good operators (which requires experience).

Is it still legal to wholesale properties in Ohio or have the laws changed requiring a real estate license in all transactions such as in the state of Illinois?

He has a landlord reference of five years.My policy is to require three months of rent in advance, which is plenty of time for him to find employment or prove his ability to pay rent on time.

How about you needing to change the battery of your car...