The reason a HML does a 5 month term, knowing the rule for a cash out is six months (assuming you want an A paper Fannie loan), is because this lets them hook you on the 1-2 month "extension fee".... which will be approximately similar to that 3rd set of closing costs.

Renovated each unit. 2nd floor requires extensive renovation.

If the work is not 100% complete by the end of the Escrow period,  may implement a .50% (on total loan balance) extension fee that will cover an additional construction term of 60 days.

@Christopher Short You may have to ask the seller for an extension on the closing date.

I have done some extensive research in both of those markets.

Hi,   I have done extensive research on this but still not able to have clarity on this so hoping the PA forum might be able to help.

One to carry the heater and extension cord, another trip to carry the propane tank and wrench. 

First get the initial property stabilized, then look for another.Are you still traveling extensively?

You drive to the property and see extensive damage from fire, water, and firefighter axes.In addition to fire damage, you will have extensive water damage from the hoses.

Any information would be appreciated and if you have extensive success with buying properties off the probate list then I'd love to speak on the phone and/or meet for lunch.