On Pg. 262 of Brandon's book "The Book on Rental Property Investing" he talks about presenting your deal to a private money lender to make sure all the numbers are laid out clearly.Is this the same thing as an Offering Memorandum (OM) or has anyone created a .doc or .PPT for this purpose?

I asked specifically if they were a portfolio lender but what I got was an explanation on the difference between the 2nd-dary market and a commercial loan.

In PG County MD you can hit 70% minus repairs.

But what intrigues me is that in 2008, per the IRS fortunate 400, the top 400 had "partnership and S corporation" percentage net losses of 3.52 and percentage of net gain of 3.06 (pg 4 of IRS link).

i made a decision NOT to PG loans and put my personal assets at risk in order to become "an investor".i decided my own road would consist of networking, building a buyer base, building business credit, starting two seperate internet businesses and eventually start purchasing real estate when i and my partners are at a very advantageous position to do so.PGing (personally guaranteeing) loans, either through seller financing, HML, or conventional, was not something i, nor my partners, want to do.

They also get PG rated calendar with scantily clad women doing construction work. 

i would borrow the money from your relatives and pay off the home and not wreck your credit.your young you can gain 30k back over a short amount of time.Ripping rents and going into foreclosure although plausible wil trash your credit and probably cause you undo stress I see folks have done this over the years.. they blame the bank for their problems. good luck with it.. if it makes you feel any better I bought an office building at the top of the market and sold it on contract it cost me 1,200 a month for basically the rest of my life.. but its my core bank.. who lends me millions so no way I can default on it.. plus the PG would kill me.. the bank helps me make millions so 10k a year is a pittance.. get some funds save your credit and character and pay it all off and move on this is not a lot of money in the grand scope of your life.

What are the impact taxes in PG county.  

When I look at all resturants except national chains and think about how many have been in the same location for 10 years or more ( stablility) they are far and few between here in Portland. but if your borrower is very strong has cash etc and you have PG's that could mitigate things as well.

Here are some listed for $90k-$110k. http://www.realtor.com/realestateandhomes-search/Plano_TX/price-90000-110000#/pagesize-50/pg-1I think these would rent for $1300 on average.