Delayed Finance and HUD-1 Rehab Invoice
My question is about @Alexander Felice 's insights re: rolling rehab costs into the HUD-1 for a delayed finance cash-out when using personal cash. If anyone has experience with doing this in real life I'd be curious to hear their thoughts about this circumstance:
When doing the invoicing and paying the contractor up front from funds in escrow.. can the contractor be yourself? Especially if I am an actual contractor here in CA. Or is that some sort of conflict with lending law?
To complicate matters, I will actually be in Ohio to do this, and am not licensed there. I won't bore anyone with the details of Ohio's sometimes city-specific licensure rules and registrations.. but it's weird and a lot to get into. And the state doesn't have a reciprocity agreement with CA where my license would be recognized. If I didn't want to get into all that can I just take the funds out myself to use as foreman with some guys working for me? That seems unlikely.. Or should I just suck it up and hire it all out? I'd like to get in there and use some money to do some things I could easily knock out myself and do better. Might have to just eat or fudge those costs in maybe.
Thanks!