Either way, the property will cash flow like crazy once my unit is rented.I have enough capital to get into a bigger property with low money down and am seriously considering a triplex or fourplex for the next one.Here’s the issue: My lender (local bank) says I need to be fully moved out and have a lease in place before they’ll proceed with my loan.

Insurance is definitely one of the parts that can be creative and save you a lot of money!

If its four months from now, then explain to him he's going to be evicted, will have a record, and it will go to collections for all court costs and rent money owed, to the penny.

After that, the lender may use a private auctioneer to auction off the property and try to recoup as much money as possible.

Eric,, I think why people go for the fund model is the idea that they are spreading their money into multiple notes being held by the company.. while in theory this is great but as you noted you don't really have any security compared to being the beneficiary of the debt instrument IE debt is in your name. 

I updated the bathroom/porch in the spring, and am finishing construction on a 2-stall garage (the previous garage was basically a large shed that I could not fit much in).Moving forward I am considering one of the following options to put my money and build equity:1.

Charlotte and Phoenix used to copy each other in trends but the last few years Phoenix pulls ahead so, depending on your strategy, follow the money and invest in Phoenix. 

Thanks for the replies.Yea I didn’t take any of the grant money from the sonyma loan.

When you start raising money, the kinds of investors you're going to get are individuals who want to make a better return than the stock market. 

Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money.