.$4850 sounds about right...yeah, the amount is pretty much determined by the city...so just pay them so that you get your permit as soon as you can.

Details:Outstanding loan amount on the home is $187kPreviously listed for sale this year at $250kArea comps are around $300k and rents around $2000/moPhotos in sale listing show a mild hoarding situation and listing says house needs some workMy main question is, in a sale like this, if the outstanding loan balance is $187k, is that all the mortgage company is concerned with or are they looking to make as much as possible?

( HIGHEND 800K)HARD MONEY LENDER WILL Lend-*85/85*Loan amount of 85% of purchase price, 85% of rehab budget, with the totalnot to exceed 65% of ARV3 points, 12% interest rateCredit report $15, appraisal $350-$500, flood certification $10$150 drawsCLOSEING COST - ?

The closing attorney would wire funds to the lender for the release amount and they would clear the deed for that specific property. 

Cash on Cash is the % of the return ( your profit after expenses) against the amount of personal money you have invested in the property. the less money you have into the property and the greater the profit the higher the cash on cash % will be.

Zillow, Rentometer, etc) that have info on properties that are/were advertised for rent and what amount they were advertised for. 

Now, before you say that I should have gotten the closing cost wrapped up into the loan amount... we couldn't do that.

Will there be a promissory note detailing loan amount and interest paid.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

The tenant doesn't own anything until the option is exercised and they actually buy the property.Owner financing is the owner acting as the bank with a promissory note with the terms of payment (principal amount, interest rate, number of months).