Are there any owner financing where it is over a 30 year period, or is that unheard of.

It would not be unheard of for the HELOC to have not been properly satisfied or released.

Those kind of numbers would make sense for south Dallas, but are virtually unheard of in north Dallas.Is this really an apartment building?

So then I asked if I could do two loans at once, do a cash out refi and use that cash as a down payment on a purchase mortgage and was told that can be done, it's not often but it's not unheard of.

An example is a 2 unit I have under contract now -- 106,500, each unit renting for $600, tenants pay own utilities (almost unheard of in this part of maine -- maybe 1 out of 20 2 units pay own heat, 1 out of 50 3 units and ZERO 4 units and above) -- it only cash flows slightly but it's in a very desirable neighborhood, dead end street, only sfs and duplexes -- tenants are a state representative who just graduated from Colby College and a high school soccer coach - longer term, very neat, professional.

 $100k profit for some of the hotter areas in Atlanta is not unheard of, maybe even normal, when substantial renovations are required.Ask your wholesaler acquaintance if you find a buyer if they'd pay you a fee and ask your buyer if you get them a great deal, if they'd pay a fee.  

@Jamison Schweitzer... buddy the weather here is unheard of!  

Unheard of, I know.So here is my question: Do we charge them their late fee, which is spelled out very clearly in the leases they signed when they moved in (with the previous owner) or do we give them a written warning that clearly states this is their first, last and only warning about late rent, and then start strictly enforcing the late fee next month.On the one hand, I want to be strict.

To get a triplex at around $100k here is some what unheard of and I can peak at prior records and see what they went for so this isn't negative talk.

The bigger thing is to make damn sure you've got a use for that building that's actually going to work, as commercial can be slow to sell.You need to know the place can be occupied within a timeframe that will work for you.Personally, I think buying vacant commercial without also having a business I plan to put in there seems kinda scary.. but that may just be because I've never done it (I have no experience renting buildings except to myself).On the upside, the kind of creative deals you can pull off with commercial are completely unheard of on the resi side...