One went for over what I expect a wholesaler would have sold.  

Many of our clients have done this and secured much better terms....EricThis spreadsheet decision is based on what you can afford and when you expect interest rates to fall.

If you get it back expect to pay a good amount in legal feesIf you’re friend did the same they are up the creek too.Hard lesson to learn.

If the break-even point is within your expected time frame of holding the mortgage, it may be a good move.9.

We expect to continue to acquire properties as a group.At the moment, I've been collecting recommendations on suitable attorneys. 

According to them, they definitely did not get what they were expecting from Karim once they signed on.

Although I am not sure how to enforce this one, there should be active, on-going communication from the the borrower to the lender .... as one would expect from a GP/Operator to the LPs in a private equity syndication. 

He is working on getting this number for me, but they only expect it to be around 60-70k, which I most likely will get a private lender to come up with that money.

Since the interest rate is already high, adding to it won’t drastically change your overall costs and will free up the liquidity you need for the new investment without affecting the low-rate financing on your multifamily property.Using the hard money loan to close on the new property could work well, especially if the property generates the $6,000/month you expect.

My advise is to just set realistic expectations (I can help with that!)