If you're borrowing rehab dollars, then the hard money lender will typically hold those in their own account and distribute them to you as draws after work is done.

I know a lot of realtors like to focus solely on selling and aren't interesting in managing properties themselves.Do realtors refer clients to property managers?

In the body clearly reference the clause it is modifying and the actual words used should be similiar if not identical as in the original purchase and sales, just with a different closing company.Who is holding the hand money/earnest money?

If it’s a mom and pop you (typically) get either a Quickbooks export, an Excel sheet, or an email listing everything.

Other things to factor in:-rehab costs-PMI-closing costs-for vacancies, repairs, cap-ex: I typically do 5%/each, 15% total (some may argue to be more conservative on your analysis)As far as the cap rate, my understanding is the cap rate is more so for properties with >4 units.

We most of the time refer them to an agent unless the home is a disaster. 

Someone here should be able to refer a local one.  

The further you go inland the cheaper the properties get typically.

I would truly appreciate any professional references..lThanks!

For reference, here’s the ceiling: https://imgur.com/HSVk4sy