Happy Friday - Thought I'd pick your brain on the financing terms I was just presented by a local bank:Per his email:Interest rates would be 5.125% for three years or 5.50% for five years; 20 year amortization and .50% commitment fee.We can look to underwrite and approve with 20% down payment if using 100% of your own funds <or> 25% down payment if obtaining a 10% seller second mortgage (15% coming from you).So,I currently own 6 properties (12 Units) with them, financed under a similar structure, that I purchased back in May.Looking to purchase an additional 22 Units contingent on bank financing, so before I move forward, what are your thoughts on this? 

Please comment about any detail you can, I will greatly appreciate it as this is a culmination of a lot of work from studying from BP and books to put these numbers together and is what I will use for my first deal (unless someone corrects me.)My offer price is less than half of what they are listing, but I feel these numbers show the real value.

Doesn't he have a fiduciary duty to present my written offer when I submit it? 

Again I agreed to proceed.During the inspection a local inspector was present, and a Zillow representative. 

Here is a link about my employers gitca arrangement with the IRS if you’d care to look it over. https://www.irs.gov/pub/irs-pdf/p4932.pdfThank you for your reply, but I have to say I don’t appreciate the “disingenuous” comment.

I don't know enough to make comment on your specific area or home but I know that the market will see some slowing over the next 2 years.

Helens OR I think this has some merit in your areas were new construction cost out strip what rents will garner plus these are literally bullet proof  :)maybe you grab some dirt there that is not too expensive and set these up maybe like a little MHP type thing.. his 8 plex I believe he is stacking them.. very common in Denmark they stack them 10 high.Also I have been picking up lots in Richmond CA  ( formerly and presently the hood) with ideas of putting these on the skinny lots.

Yes, you can change the lock yourself; however, lock must be changed during the time the Sheriff is present and after the Sheriff remove her from the property. 

Thanks for the comments! 

We based our offers around what we knew about the potential taxes, presented the different scenarios to them, they took the info to their CPA, found out we were right, and then it was just negotiating the interest amount, downpayment, and balloon payments.