They always offer 0% interest rate for 12 to 18 months, but I need to pay 3% transaction fee, for 12 to 18 months, which is still good rate.

Instead of indirectly seeing these costs pile on over months or years, they will be charged with every ride.

- About how much rent were you charging?

I charge a pretty penny for my VRBO so I don't worry about toilet paper, paper towels etc.I go to Sams and buy the huge pack and fill up my bathroom closets and don't worry about people steeling TP or paper towels.

I get the point of if you can invest your cash for a greater return then its cheaper to use OPM to rehab houses and obviously if you rehab more than you have cash to support OPM is the only way to go.In my area using OPM usually ends up costing about 20% after figuring in the points, fees and interest which is pretty normal from what I can see, at least for those that dont have a good long term relationship with a lender that gives them better rates.

This should all be included in closing documents..Owner give you copy of lease, addendums,  the amount of security deposit plus interest is paid to you within the closing fee's.. any rent is prorated to day of closing and is factored in closing fee's.  

3) With me being a realtor, I can list the property at a discount rate (still have to pay the brokerage a little fee) and we save about 12K in listing fees (still have to pay the buyers agent, unless I sell it personally). 4) Should we try to get the hard money, or should we be looking for a cash investor that might see a benefit of not having to pay capital gains taxes or listing agent fees, and partner with us?

I also said, that I probably will save him 2 or 3 times that fee in my negotiations with the seller.

(insurance, property tax, HOA fees, maintenance expense, % vacancy, capital reserve, management fee (if any)?

My wife and I have very stable, well paying jobs in the Washington DC metro area, but we've made the decision we want to take charge of our financial futures instead of continually trading time for dollars like our families do.