The HML gave me wrong information and the draw process is quite different than how it was explained to me.

I think my options are: 1) HELOC - draw down about 40k with the plan of paying this off quickly and aggressively, as the interest rate is adjustable2) Home equity loan - loan at a fixed rate and term.

I do wonder where you'd draw the line, though-- after all, there has to be a point where a new service transitions from "This is likely a waste of my time" to "This might actually be worth something."

I wouldn't ask for less than a $25,000 minimum investment.If you are raising money in this way, and it's more than 2 or 3 friends or colleagues investing with you, you will need to hire a SEC attorney to draw up your disclosures, PPM and operating agreement for the LLC you'll create for the asset.I know this sounds like allot, and it's why most people start with smaller properties or partner with someone experienced. 

AlsoSevier County big for Airbnb""But far and away the biggest draw was Sevier County.

In addition the hard money lender he chose was extremely hard to work with and would only give us a small fraction of the draws we requested.

In addition the hard money lender he chose was extremely hard to work with and would only give us a small fraction of the draws we requested.

The price of the note is a fraction of the $25K UPB, so I'm just trying to figure how I get my $25K UPB paid out -- I'm not worried about ROI in this scenario--just understanding the foreclosure auction process.Let's amend the numbers like this: Appraisal $ 117,250 1st Balance $ 50,000 2nd Balance $ 25,000 Equity $ 42,250 Bid Price (2/3 of Appraisal) $ 78,558 Payoff: 1st+Court+Attorney $ 53,500 Payoff: 2nd $ 25,058 2nd Coverage 100% I draw 2 conclusions from this. 

Hi, looking for an architect/engineer/skilled contractor for:1) MEP drawings for a city-approved conversion from a SFH to a duplex.

We just went home (we still call it home) to my folks place and spent the evening NYE and New Years day with my folks and saw a childhood friend that was back in town and haven't seen in years - the momentum there is far superior to anything Topeka has going - though I do like some things Topeka is doing to downtown but there's just not many businesses down there to draw anyone after business hours.