@Bryant Brislin That’s a great breakdown, and it highlights how much of this comes down to incentive alignment, not just timelines.What you’re describing with staged deposits, defined diligence periods, and accountability along the way is often what separates deals that move forward from ones that just linger.

The emphasis on overall deal strength, clear execution, and defined exit planning makes a lot of sense.

In those scenarios, the margin of safety has to come from strong equity, conservative leverage, and a borrower with a proven exit.Some lenders choose 2nd position strategically for yield or speed, but it only works when downside protection is clearly defined.

My first 3 deals were house hacks, each with a value-add component (“live-in flip”).

Hello @Kyle Hoppman,Before shopping for properties, define what a “good deal” means to you — because that determines what and where you should buy.If your goal is higher initial cash flow, I would look for low cost properties in a city with declining population.

It accurately breaks down components, ensuring investors capture every available accelerated depreciation deduction and fully capitalize on the returning bonus depreciation benefits.

Likewise, we expect our borrowers to hold us to our commitments as defined on these signed loan documents. 

I am not confident that the contract clearly defined deadlines, and I also believe there are likely no meaningful assets to pursue.

From my experience, the biggest mistake is not defining what happens during the refinance.

You have to be 100% transparent with the finances, motives, plans, and clearly define roles.