@Jarrad Berman - I looked at the DR Horton development online that you were referencing - as @Dena Puliatti noted, that location has potential appreciation long term given the growth in that area, mainly because there is a lack of available land otherwise toward Madison proper and Huntsville. 

Generally you want to get to at least $100k in loan amount with $75k absolute lowest for both hard money and DSCR - probably your best bet is to finance with cash or private money investor/partner on the first few projects until you build up enough capital to get to those higher amountsPS - you mentioned a lot of reading and learning on this, on the chance you didn't see this article, check this recently published BiggerPockets piece I did on your exact topic - Pros/Cons/Options of financing BRRRR strategyhttps://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...

Purchase price: $85,000 Cash invested: $21,750SFH turnkey property with high potential for gentrification in the areaWhat made you interested in investing in this type of deal?

I bet I haven’t used mine in a year or two.  

And in reality it can take one major cap ex to drain months/years of cash flow, so ideally I’d prefer to fix anything with that could potentially become problematic within next few years with the financing used when purchasing.

I have never gotten money owed from a tenant after the eviction.Best bet is get biggest deposit you legally can and when they get behind file the eviction ASAP.

What my plans are is to buy fixer upers that have good potential, I want to rebab them and get rented out at competing market value around the area's.

Of course we’ll never know how many potential suits an LLC prevented…  it’s an elucidating thread nonetheless.

Both homes that I've purchases were on market deals, so I'm a bit hesitant to be the guy who calls someone up because I get those calls several times a day and I hate that using cold calls is the standard.I don't expect to be able to use the fact that I'm a local just trying to make my business work in the market it was designed for as a leverage point because it's not helping the potential sellers at all.

Hi Batool,I saw a post you started a while back about traveling costs.You want to keep travel of your travel costs as they will likely be considered deductible or potentially start-up costsSome travel costs includeFlight, Hotel, Car Rental, Meals, mileage rateBest of luck