Higher ROIs are typically  in tougher areas (say Gary).

Typical procrastinator.

Irony of ironies that folks using hard money loans are paying for their own possible foreclosure, but this is also the reason that frequent repeat customers of a hard money lender typically pay less in points as the relationship progresses.

The phrase "then current underwriting requirements" refers to qualification, not loan terms. 

The 4% cap rates was referring to what the seller's asking price is to its current performance. 

I think that is what you are referring to.From@Steven Lewis's description, his parents borrowed money thru a HELOC and gave it to him to use in his business.

We don't do them at US Commercial, but I can refer you if you are interested.Best of luckStephaniePS (Tell your wife, from one wife to another, house hacking is fantastic. 

Based on my income + about 70k in savings from selling non-performing properties i have been debating a few ways of going...I have been keeping an eye on MLS listings since i still hold my real estate license for the past few months and Craigslist for cash deals, but i feel the prices are just terrible right now on your typical 3/2 rental properties...Option 1: Should i keep looking for 3/2, 4/2+ under 150k deals for rentals in hopes of something popping up?

At least by being up front from the beginning, you can all save time.As for us, we use the typical formula of 75% ARV minus rehab costs.

Unfortunately, typically a far greater number will have spent a small fortune - perhaps one they could not afford to squander - trying to buy the "hope" of the marketing pitch and end with nothing to show for it.IMHO, the best mentors are a seasoned, successful, local investor who is willing to pay-it-forward to the next generation.