Hi Griffin, It is not uncommon for hard money lenders to finance 90% of the purchase price and 100% of the rehab cost on a 6-12 month term, and then they'd be able to assist with long-term funding for the property once it has been rented.

This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.

The duplexes in the area of Long Island I'm looking at cost around $700-800k.

This is a relatively new policy put into effect in October, 2023:https://www.airbnb.com/help/article/990

From my research, the average closing cost of a single-family home in Texas is between 0.98% to 1.31% of the final home sales price.

To save cost and headache I suggest to keep your property and his property out.

It needs to be a certain speed, certain smoothness to your due diligence and underwriting procedure, you really shouldn’t get too much into the weeds, especially when calculating monthly costs.  

This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.

I have managed my rentals on a very basic spreadsheet (poorly managed) and it is time to clean up my accounting and legal structures.Can anyone opine on a cheap and effective software for the accounting side of the business? 

That could also explain why the costs were so much higher on the DSCR estimated you received.