Quote from @Lilach Holtzer: Quote from @Patrick Roberts: I'm based in Charleston and am frequently in Columbia.

Unfortunately I suspect most of those who could most benefit from this info are unaware of the value of this information. 

The guru your son is learning this technique from is likely not telling your son that the deal will almost certainly encourage your son to get an "off-market" deal from a "wholesaler" who is unlikely to properly disclose the details of the property or encourage an inspection. 

You can't actually pay it off directly because they've been securitized, and the people who invested in those securities did so because of the specific certainty of the payment schedule.What you do in a defeasance is use the proceeds of the sale or the funds from your new lender to purchase treasury bonds that are packaged to make the exact payment amounts and timings on the remaining term of the loan, and then assign those bonds to your old lender.

I’d love to hear from anyone who has done this before, how did you structure it, and what worked best for both parties?

This is our first investment together so we're exploring financing options.Wondering if anyone has trusted contacts in private lending/hard money who are able to fund ~$400k in acquisition cost and ~$250-300k in repairs?

Quote from @Mya Toohey: With my STRs here in Tampa Florida.  

It's a good way to get started and learn the ropes without a lot of capital, but you need to make sure youre doing it correctly.

If you’re willing to put in the work and learn the nuances, it can be a great place to build a portfolio.Feel free to reach out if you’d like any pointers or resources—I’m happy to share what I’ve learned from my time investing there.Best of luck!

The owner’s mortgage balance is $315K and they have an interest rate of 3.5% and the PITI is 2126.