The thing I'll be changing is the financing I've been doing with a local bank, which has been a bit slow and cumbersome.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

The main issue I have is contemplating the baloon payment at the end of the 2nd year and refinancing the remainder with a bank...how can I compute that into calculating the IRR?

I would enjoy meeting other like minded investors in my area.  

Try talking to local banks who want to do business with you.

., (3) gives you viable options and explains the pros and cons of each option and (4) you enjoy interacting with - this should be a relationship, not a transaction.Once you find a few lenders like this (and you should have relationships with more than one), then you can start comparing rates and fees.

Hi Michelle,Keeping tenants' security deposits in a separate savings account at an online bank is a common practice and is generally recommended.

Local banks and smaller credit unions are most aggressive in this space.

ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

And 1/2 of that is accounting that I could farm out too, but I enjoy it.