To sum up my experience, my commercial mortgage loan originations are booming; we’re getting 12.75 - 13.5% interest with 4 points for 12 month loans at 40-60% LTV.The purchase of existing loans from lending institutions has dried up for us, as buyers are offering more than we feel is warranted, and they are buying “dubious” assets.  

If so, what was your experience?

There's a lot to unpack here... and it's not my goal to be a 'downer' on your aspiration... but just telling you my experiences to caution you about being new to the game...First - I don't think we know what state you live in, so just know that foreclosure auctions are handled very differently all across the country.  

I have not owned a venue before but have extensive event planning experience. 

In my experience, if you don't have that edge, you will likely struggle at active investing and you are better off in syndications.

If so, can you share your experience?

It was a very bad experience for me that could have been easily avoided if they had any professionalism and commitment to doing what they advertise they do.

Here's my experience and understanding of the law about security deposits.You cannot hold back money for anything that is normal wear and tear.  

Appointment setter is tough to do commission only, it can be done but you really need lead flow, they need to have a realistic expectation to get paid in 90 days or less, few people will remain focused for more time than that before getting paid.

You may get some people off the bat who won't want to take on the project.I'd also recommend having a timeline in mind for how quickly you want to get the project done and asking each contractor if they have other trades they have experience working with and like working with.