In a nutshell, NorthBank seems to hold promise as a lively and lucrative prospect.

If there any terms in regular residential lease don't apply to your property you can legally cross that word or paragraph and add tenants and landlords initials when signing the lease. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

Also, info on loss prevention employed at the site (alarms, utilities shut off, fenced property, locked, visually inspected regularly, etc.) will help them in the search.  

Confident that we can do this, I went ahead and persuaded him to form a holding company with me to buy real estate.

The only difference is I switched to using a 7 year hold instead of a 4 year hold, based on someone's suggestion above that it might be good to request the 3 year extension option now as part of this proposal. 

If rates hold steady (who knows if they will), you might be able to pull off a brrrr with your second purchase and get into whatever you are looking to do for your third.