Cherry South Bend INCurrent Property Status: This asset is sub-performing, which means the borrower is due for July, and foreclosure is to be referred next month if the account is not brought current.Syndication: Scottsdale REI - III - XXVIProperty Address: 172 Carlson St, Westbrook MECurrent Property Status: The borrower is currently in foreclosure, and the Fair Debt Collection Practices Act (FDCPA) letters have recently been sent to the borrower.Syndication: Scottsdale REI - III - XXVIProperty Address: 13959 465th Ave, Wilmot SDCurrent Property Status: Scottsdale was required to issue Service by Publication.

Also something to consider is what is the appreciation play looking like? 

A prominent MLO in the northeast was recently charged and stripped of his license for playing this game with his borrowers.Also, everything is reviewed by underwriting.

nice job I grew up flipping land I love that play still fund land flippers to this day is a niche of lending that I have carved out.. 

Secondly a 7% rate with 1-2 points depending on LTV, FICO, DSCR, and prepayment penalty does sound fair/market standard.

This typically comes into play with big banks (Chase, etc) who are buying the loans to place them on their balance sheet.

@Steve Rozenberg Fair enough.

Is it fair to ask the tenant to cover a piece?

I'm fairly new to the real estate game and currently have 2 properties; 4 bed 2 1/2 bath renters have been in there going on their 5th year, and a new 3 bed 2 bath we're looking into using for a midterm.I work as a radiology manager for Methodist and been with them going on 10 years.

I also believe social media plays a big role in people not really wanting to work, especially with younger folks.