I got mine approved and ONLY because my banker of almost 30 years who is a senior VP personally walked it through.. the bank took its top teir clients and pushed those through.. i feel sorry for anyone trying to do this with a big bank and on line.. 

I am thinking of getting a rental property before I move out so I can get the ball rolling and then renting an apartment in NJ or house hacking a multifamily in NJ and trading up for a single family home after a year or once enough equity is built up. 

So the passive investor has to ask the question ( Is the syndicator still buying GREAT deals today that mimic those of the past but their deal velocity is just down OR Are they pushing results of the past to invest now but syndicating deals today where margins have gone DOWN but risk is now HIGHER?).  

Account Closed If you have the partner's equity account as the main account then contribution and distribution account as sub-accounts, when you run balance sheet, you can easily see how much each has put in or taken out and roll up into the main account so you will also know how much is the equity balance for each partner. 

I bought a vacant lot and had the ball rolling with everything that needed to be done to do a new constrcution, permits approved last week which the company that was financing the build was waiting to start issuing the funds.

If you're in a good position to buy, @Jonathan Almanza, push forward.

Is this worth the closing costs and savings of some money on interest but ultimately to just free up cash and roll into another property?

Now when my realtor says that the closing costs would be rolled in to the purchase price, that would just mean we are financing our own closing costs instead of the sellers actually paying for a dime?

I'm able to do 80% LTV on the ARV per the appraiser, pay interest only for 12 mo and then roll it to a conventional mortgage when the rehab is complete.

@Michael Noto, the governor pushed that to a 60-day grace period in his recent executive order.