If you know the lender well, they may waive that.In theory, you can get another loan and pay the initial lender off at any time.

Without providing any legal advice, does anybody know if an LLC/LLP (in theory) can become a private money/hard money lender to those doing house flipping?  

In theory, there is not much work that needs to be done. 

Same theory.

Being a (very) beginner investor, but a long time resident of Austin with ties in the Detroit area.....you are likely to get more 'bang for your buck' in Detroit with the right property. 

The theories I have heard are paying down debt with the profits to the point where your profits might reflect a $1 a month profit.

So in theory, you could buy a new property each year, move into it, and rent out the unit you were occupying previously.This would get you much better financing terms on each property -- lower down payment, fixed rate mortgage, and no points.  

Construction costs the same whether in Gresham or inner Portland, so you'll get the most bang for your buck if you're close-in. 

I have read and understand the theory of using a buyers agent because the seller pays the cost.

Does this seem like a good way to start out to all of y'all veterans of bigger pockets and using this theory will I be able to find funds for the first few?