Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

However, be cautious—newer “B” properties are sometimes built in “C” neighborhoods, so careful due diligence is required.Monroe: As mentioned earlier, Monroe strikes a balance, making it a versatile option for investors.Trends to WatchTransit-Oriented Development: Areas near light rail expansions are seeing significant value increases.Suburban Growth: The suburbs around Charlotte, including areas like Concord, Huntersville, and Monroe, are experiencing steady growth as people seek more affordable housing outside the city center.When investing in Charlotte, aligning your neighborhood choice with your goals is essential.

However the medium term rental seems like a good option.

@Robert StephensonIt’s great that you’ve built solid equity in your current rental property— Here are a few options to consider:Cash-Out Refinance: You can refinance your rental property and pull out some of the equity to use as a down payment for another property.

Six-unit apartments are an excellent investment choice, and I’d be happy to help you explore options that align with your goals.Looking forward to hearing from you!

If you're open to expanding your options, you may want to check the Columbus OH market. 

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

There is a ton of fix and flip going on in Brooklyn and I am trying to work my confidence towards that after my first project at a lower price point around 300K somewhere (CT seems like my only option). 

Account Closed a PMC has two options to get liability insurance (tenant slip & fall) protection:1) Get added to owner's policy as Additionally Insured (NOT named insured).2) Setup a master commercial policy and add every property they manage to it and then charge those owners the cost of the policy.Otherwise, a PMC CANNOT get liability coverage on a property they have no ownership interest in.So, nothing wrong with their request.