It is expensive and you have to make sure to add the costs into your spread sheet. 

I feel that over time the maintenance is spread out and less major because we find issues every week as we clean up for the next guest and deal with them immediately (instead of finding out about them a year later when the tenant moves out).

Examples: When traditional rates were avg 3.5, I was getting 10%.Now traditional rates are approaching 6% and I'm getting 12%.So I don't want to lock in at 12% and watch my spread erode. 

If you want a brick fourplex with 1:12 roof, shared laundry room, off-street parking, and a live oak tree in the back yard, start spreading the word to everyone and their brother that this is what you're looking for.

Even your 135k offer was high. 135k + 10k assignment + 45k = ARVThere’s no spread. 

You'll be making money (cash flow) on the spread between the interest charged to you and the interest you charge out.2 - As the bridge loans are paid off, continue to lend out the principle that is paid back to you, and...the cash flow (spread) that is paid to you as well. 

I want to avoid hard money and spread my risk by partnering with someone. 

I would happily carry millions upon billions of debt at say 4% with 0 thought of ever paying it off if I can deploy that and get a say 9% return, for that 5% net-spread.     

Cut the rate to get some people in and spread the word.

The money partner isn’t necessarily trying to earn a spread on the deal until after they are paid back, made whole, and the cash in the deal becomes zero.