I'm assuming he would have to wait 60 days for the funds to season in his checking acct first?

We're based in Frisco, TX and would love to make connections with other newbies, seasoned investors, agents and lenders in the area.  

Made this rent roll pro forma w NOI, would appreciate any insight from seasoned commercial investors AND any help on a loan.

Hence why I was on craigslist lol  Easiest way to get your investor buyer clients inventory is connecting with all the wholesale shops in your area, and connect buyers to sellers.Some of the seasoned buyers will already be on the wholesalers' mailing list, and thats fine, but there will be many that have no idea what wholesaling is and you're bringing them value by exposing offmarket inventory to them. 

@Sean Conroy, this really depends on two things: first, the land zoned in a way that you can subdivide and build more units (question for building/zoning department) and second, financial returns on doing this versus using the capital to buy.New construction certainly has its advantages on the operating side, and can often get a premium to remodeled, older units.  

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

For $10/mo I think that is a pretty good deal and convenient for people (especially during NFL season), no matter the size and level of luxury of your unit. 

It does well as a vacation rental, and we live on the island several weeks a year during off-season.

There are many ways to problem solve this so you don’t feel trapped in a path you don’t want, but also may learn that your parents have a few good points that you appreciate when you’re older.

The mortgage will be 1.2M if I decide to rent or I could sell the older home and bring the mortgage down on the new home.Consider the situation, interest rates and the market, what makes more sense?