I am leery because it is such a small deal…just 1 small 1 bedroom unit…and not a great a deal unless maybe you are local and have a use for it…walk to community college.  

It’s great to have a community to bounce ideas off of.

Hello BP Community! 

Personally, and what I would do for my clients, I would connect with a local community banker to discuss the property and see if their bank would entertain this type of financing (not all banks like doing this type of deal).

However, you have to invest in specific communities where they are encouraging development.

A good attorney will even warn you if you are doing something illegal.As you can see from the list, a wannabe or "self taught" or poorly trained by videos or in a "community", does not provide the breadth of knowledge & experience to keep people out of trouble. 

This is a growing trend in rentals to increase cash flow and help your community with affordable housing! 

Id go right into looking at local credit unions and small community banks for HELOCs (lines of credit) so you can have a lower blended rate and draw/payback as you please.For the 3F - Since this is free and clear, you would only be looking at 1st position options here in the world of financing.

I want to thank the few people that took the time to welcome me to this community.

This kind of legislation discourages good investors and people who enjoy coming in and helping to stabilize communities.