Hard money loans are typically for short durations - not loans youd want to maintain for the long term. 

They called the loan (commercial loans typically have 5 year calls built into them) at a time when there were no other lenders were out there in FL. 

This typically includes a seasoned tax advisor with real estate expertise, along with an asset protection attorney who understands both your investment strategy and risk tolerance.

If you are setting up an LLC to hold a long term-rental property, for example, disregarded is typically the way to go (taxes are reported on your personal return, you don't have to worry about self-employment tax because the income is passive).

It can typically be underwritten like any other rental property, just with the expectation there are going to be extra costs involved to split the lot, but that's where you are creating value.  

The owner, PM, accountant, and bookkeeper are probably all capable of this work.My HOA dues only typically change once a year, so they are on auto pay.

A three-bedroom in a typical suburban neighborhood, nothing flashy.

As a result, multi-family properties typically generate lower overall income than single-family properties occupied by reliable tenants.

This new build now cash-flows with less money down than typical or, as a flip it makes six figures.The reason why this works: In Boise, building lots are selling for minimum $150k to builders, and up to $350k+ depending on location.

There are plenty of hidden clauses (“gotchas”) even on non-recourse loans that many investors are only discovering the hard way.For loans on 5+ units, lenders typically require your (and your partners’, if applicable) net worth to be at least equal to 100% of the total loan amount, plus liquidity of 10% or more of the loan amount.