@Rafael Floresta I keep 2.5x the number of sheets, towels, etc. required at our larger properties.  

why hard money, what's wrong with soft money, money form your relatives or friends or a joint venture.

"Soft costs" (such as interest in late payments, late fees, etc) get waived.

We can be those guys too, just refuse to throw in the towel.

I'm working on a similar project now but I just borrow the money from a soft lender and pay them their interest monthly.

This is called "sub2"Sellers make a decision to go with me because they like and trust me.Negotiation Skills and Sales Skills are "high touch" and "soft skills".I learned most of my skills from the masters: Tom Hopkins, Zig Ziglar, Jim Rohn, Roger Dawson, and Brian Tracy.

I did talk to Wells Fargo about it and they were willing to do 60% of appraised value after a 1 year seasoning period.Thanks for everyone's comments and feedback!

Is it out of line in the case of slumlord/neglectful ownership to just ask the tenants if you can get a peak at the place, maybe snap some pics and get a soft estimate before you submit an offer?

There is a myth floating around BP and the podcasts that you can get hard money or soft money lending or a loan or gift for MFH down payments.

They kept saying that all they could do is place a call to Wells Fargo mortgage and hand me the phone.