Wells Fargo and JPMorgan Chase both extended credit lines to fix-and-flip lenders.

To wit, the last person that described the guru in-house private lending started by telling me the interest rate was 0%.I asked about fees, he said "origination" was $500 + 9%.I asked about balloon, he said full amount due within six months, or a 9% "convenience fee" must be paid again to extend another six months.That means the actual interest rate, annualized, is 18.XX%... so, for the guru/lender, CoC ROI is at least [ 18% + no tenants + no capex ].

One strategy I'm considering for our stay in FL since we will likely be there for such a short time (9-12 months, possible 3 years if my military orders are extended) is to buy a nice home that needs a little bit of work and prettying up - nothing too extensive of a rehab since we will need to live in it in a few months.

Don't over extend yourself, it's not worth it in my book. :)Happy investing! 

Wells Fargo and JPMorgan Chase extended credit lines to fix-and-flips lenders.

It would be your responsibility to pay off the loan, refinance the loan, or extend the loan for a cost.

I'm of the mindset of extending tech to minimize the workload of investors/ homegamer-PM's. 

You extend it over a decade with amortized interest of 6-7%.

Keep in mind you are asking the seller to take the property off the market for an extended period for $xxI would have included any requested upgrades/repair requests within the body of the contract 

We didn't close, but extended.