Now if he gets you by the hand and shows you how to buy with no cash and credit, and you are able to buy, then his snake oil is worth it weights in gold, but he will have many excuses his business is selling snake oil not real estate.

@Amber DouglasIf you are confident in renting the 6 unit and have funds to carry you through the rehab and lease up then it all comes down to the numbers.

I've been here 14 years and have seen the site ebb and flow, occasionally being taken over by over bearing folks with a gold star in their title.

Thus, he wants nothing to do with carrying the note.

One advantage of seller carried mortgage or private notes is generally a reduction in income documentation.

His stance is that there would be no point as any depreciation would just be carried forward to future years.  

For example, I've had amazing success with seller financing—one time I even got a seller to carry back 100% of the home's value in a first mortgage, meaning zero down payment.A crucial part of this is finding motivated vendors.

Or a $500K property with a rehab budget of $200K and $35K for carrying costs and an ARV of $1M.

Yes, you will have mortgages on these properties but any true investor is not as concerned about carrying a mortgage as they are about the returns the property will bring.  

Is this possible for a cash out refinance or rate term on 2 investment properties on the same loan that need to be refinanced and separated, or is this a unicorn by a rainbow sitting next to a pot of gold?