Provide detailed specifications and ask for itemised estimates.

Some require me as the investor to start the process with my own funds and others provide 20% up-front.

You will not need to provide personal income like tax returns or paystubs as the underwriters look at cashflow of the property in place of that.

@Michelle MosesYes, no one needs an advisor and if a client doesn't get value from their current provider they should leave.   

I didnt provide clear enough guidance to my contractor on every last detail and the expectations of the finishing touches I needed.

DSCR loans provide a 30 year option.

this will help with the administrative tasks (e.g. yearly 1099, pay off statements, accounting especially if the borrower pays faster) as well as helping to provide a 3rd party proof of non-payment in case you need to foreclose.Be sure to use an attorney that specializes in Notes, not necessarily a real estate attorney, to draft the paperwork and protect your interests.Good luck.

For other folks, here are some other entities that would, if you sold the property to, have negative tax consequences: YouYour spouseAny of your lineal ascendants or descendants (parents, children, grandchildren, and the spouses of children, grandchildren, — including legally adopted children)Any investment providers or fiduciaries of the IRAAny entity (like a corporation, LLC, or trust) where a disqualified person owns more than 50%Any entity (like previously listed) where the IRA account-holder is an officer, director, a 10% or more shareholder, or a highly compensated employee

I kick myself in the butt because I could have deployed it a decade ago when the market was ripe for the picking, but I believed the finance guys the employers provided at their seminars.I have done it.

We've done a few deals together in this way and currently hold 10 properties together - with an additional 3-unit closing next week.The basic structure made sense for me to get started - my partner provided the cash injection and I provided the time and effort to find the properties, fix the first couple and/or manage the contractors.