I just did this on a house that was smoked in heavily for years. 

I'm guessing that's not what you're looking for, though, because they're so heavily regulated that there is really little opportunity to be shady.If you're looking for hard money, it's all over the map, but I can tell you what I ask for. 1st lien with purchase price at 70% of ARV or below, money paid out in tiers, based on project progress, 4 points on the front end and 12% interest-only (essentially 1% of the loan is paid back each month) with  6-month amortization period.

I will be heavily involved in the day to day running of the house, decorating, stocking, etc. etc.

I have good credit and a good full time job and would like to use leverage as much as I can-are there success or horror stories about areas I should consider heavily or avoid?

HOA financial status, are they collecting dues, are they heavily in arrears, are they strong?

It's happening Look at this video http://www.housinglb.org/newsmedia/http://www.bhclongbeach.org/lbrising/These heavily funded groups from outside the city with national funding. 

I'm not sure where you're located but if you want to talk to an agent in our network who's been heavily vetted then message me all the info and I'll have one call you.  

If you are in long then I believe all will work out and regardless you have the mortgage covered with the rent (assuming any downturn is similar and does not heavily effect the rents).

@Kevin Moen Thats really helpful to read and I do look unto FCI Exchange and see how they can be heavily handled.

I too am heavily invested in real estate - both rentals and new construction projects.