The best I'm being offered is in house 5 year ARM, 20yr amortization.  

My FCU was letting me buy the properties 10% down, 5/5 ARM, No PMI, 3.75% APR.

I would enter the house heavily armed and tell them that they had a choice.

A 15 year fixed or a 5 year arm, amortized over 25 years.

I'm avoiding those parking problem MF properties on my search.I'd love to see any MF in Cleveland or Akron with double digits NOI....really.Unless you don't count management and maintenance.

But I think it was more timing than the "turnkey investing" that was what drove my double digit returns.Majority of REI investors made money if you invested in 2009-2011 time period.  

Vivek,If you go the LLC route, definitely speak to an Attorney about the do's & don'ts on how to set it up and how to keep it at arms length from your personal accounts to keep a claimant from piercing the corporate veil.  

Spencer Savings Bank has a commercial lending arm that underwrites these types of loans in NJ.  

We're in the digital age guys) or...you can just find a Real, Straightforward Investor to Mentor you. and if he's ligit and not a greedy crook.

I use a professional property management firm with it's own construction arm, so I don't need to deal with outside contractors.