HI BP, I want to borrow some funds off of my Dad for a quick rehab but he's new to the lending game and I've never borrowed short term before so we're both curious as to what's the norm for this type of loan?  

From a quick breakdown I'm seeing that it should cashflow around $600 per month.12% Cap Rate, and around 25% cash on cash. 

If you find someone good, pay them quickly and they will come work for you again.

You can use another portfolio or hard money lender that doesn't have any seasoning requirements to pull more cash out prior to your conventional lender's seasoning periods end.Edit: Also, you shouldn't have trouble getting a hard money loan based on your experience.

The date of the import, contact info for the owner (and the persona who inherited the property if probate), a mailing address if it's different, the name of the original list for quick referral, and some kind of a way to track which mailings said contact has been part of. 

Comps in the area go for 130k-150k for similar style houses (same neighborhood) and will most likely sell quickly due to the housing demand we will be having in Houston.

They provide a 3 day training and then provide you with their resources to make quick flips.

@Nick Kendall Most will agree with @Alex Deacon that partnerships are extremely difficult to maintain over a long period of time.

I wouldn't do it unless I desperately needed the short-term cash and felt confident I could pick up the slack at the end of the three month period.

Then, with lease extensions, it goes up from there.At this point, if you sold it at the same 9% CAP you bought it at, the sale price would be  over $2.4M.If you add it all up over that 20 year period, the numbers would look like this:$2,035,000        Accumulated Cash Flow (NOI)$   422,222        Profit upon sale$2,455,222        TOTAL over 20 year period....and no management responsibilities.