If I understand correctly; the seller would receive 80% ($40,000) directly from the mortgagee at closing and would enter into a personal agreement with me for the 20% down payment ($10,000) in which he would be reimbursed separately from my mortgage payments at a separately agreed upon rate and term?

Hi Warren,  I've only heard positive reviews about M&M but have not personally used them.  

Things like a new roof can range - here in Philadelphia where i do a lot of work, our flat rubber rowhome roofs are fairly inexpensive and standard . . .

I recently sold my personal house , had a buyer get a home inspection , and tried the same crap , to the tune of $60K .

One person's crazy is another person's sanity!

I don't have any brand preferences personally (I use Fantasy Spas at most of my units but I'm sure there are alot of reputable options), but just make sure wherever you place it is built to handle that type of weight.

I had the initial call with a PadSplit sales person, but I wanted to talk to somebody who's actually doing it to get their perspective and advice.

It can be a very good market, but the why behind your choice may help us give you better advice on how to move forward.Before realtors and property managers, you really need to meet other investors so you are making a good move by trying to do that here, but it would be better if you could do it in person.

Personal loan for renovations How did you add value to the deal?

Unless you revise your plan and ensure that your personal use is under 10% of the rental use.