@Igor Tomic As you note downpayment, I presume the balance would be a mortgage; as such, I'd imagine this would depend on whether the mortgage lender will even allow the downpayment to be from "Borrowed funds"?

Now I think my biggest risk is that I can't be so anxious to get a deal that I do a bad deal, it's a balance of tempering passion, ambition, and solid numbers. 

I suggest, as I have done, diligent use of leverage balancing this with not taking on too much risk, focus on acquiring cheap (below average cost of housing) properties, in safe/quality neighborhoods. 

Everyone wants to feel safe, live in a nice place and enjoy the management.This move increases you tenant retention numbers, make ready’s are a leading cost in the maintenance section of the balance sheet.It would also be a big plus if the new management company had repositioning experience but that might be asking for a bunch.

My question is can I then find out what the current balance is on these?

8 plex Price 90000 Down 90000 Balance 0   Rent/Unit 425 Units 7 Total Rent 2975   Taxes 80 Insurance 170 Utilities 700 Management (10%) 267.75 Vacancy (10%) 297.5 Maintenance (5%) 148.75 Capital (5%) 148.75 Payment 0 Total 1812.75   Cash Flow 1162.25   Cash Flow/$1k 12.91389 Capitalization Rate 0.154967 ROI 0.154967    

I think credit card debt is probably the obvious category that needs to be kept a little to zero balance due to typically high rates, but what about auto loans?

Next, decide when the remaining principal balance will be at 80% of projetted appraised value. 

I recommend that you pay part up front to help the borrower pay for moving expenses or a rental deposit, and the balance after borrower has vacated and left the property in good condition. 

However, when an owner financed older couple could not balloon pay me off after 4 years, I ammended and extended the contract 8 years and took 7 k off the balance after the well collapsed and also loaned them $3500 on the back end to diy tin the roof.