Originally we were going to use hard money, and had contractors lined up to do all of the work and it be a 2 month project.

You may initiate the cost segregation study at any time prior to the original filing deadline or the extended due date.

The downstairs, which originally was slated for retail, will be event space with the space leased to Downtown Memphis Commission and then they will coordinate and lease space for events.  

Some lenders will allow you to pay down the principal balance up to 20% of the original principal balance without triggering the penalty, others will flat out state in the note that ANY prepayment partial or full within the period specified will trigger the penalty. 

Then, since you are taking over the seller’s loan, you have no loan origination fees and don’t have to use your credit.

. • 6.075% rate• 30-year fixed• 5 year PPP (5/4/3/2/1)• 2 point origination (or 6.225% for 1 point origination)• $1,495 underwrite/admin feeHopefully this gives you a good idea of the different terms that are available out there. 

Originally posted by @Janel York:Or, another option is to pay the annual fee to use a registered agent service, correct? 

Originally posted by @Matt Tallent:Most of it is pvc except for where the pipe exits the house which is around a 2000 fix so I was trying to find an alternative. 

Look for a recent deed transferIf the original owners passed and no deed has transferred to heirs, that’s another sign the estate may not have been settled yet.5.

Scope of improvements included:Full interior updates: new flooring, interior paint, lighting, granite countertops, and updated appliancesAddition of high-demand short-term rental amenities: game rooms, custom bunk beds, hot tubs, swimming pools, and putting greensProfessional interior design and full furnishing to optimize guest experience and nightly ratesThese improvements were executed with the objective of maximizing long-term performance, increasing appraised value, and creating differentiated offerings within the Hot Springs vacation rental market.Refinance & Financial PerformanceUpon completion of renovations, we partnered with a local commercial lender to refinance the portfolio.Combined appraised value (ARV): $2,601,000Approved loan amount: $2,200,000 (cash-out refinance)After retiring the hard money loan, the transaction resulted in a net cash return of $300,470.51, which represents $118,181.09 more than our original down payment—effectively removing all invested capital from the project.TimelineThe full cycle—from acquisition through renovation and refinance—was completed in 174 days.OutcomeThe result is a portfolio of three fully renovated, amenity-rich lakefront properties, each now positioned to perform as premium short-term rentals with strong long-term appreciation potential.