Wayne Brooks Perhaps this loan has a prepayment penalty that is equal to the remainder of the total amortized amount?

We each put up an equal amount of our money to cover the down payment plus rehab costs ($50,000 each, for argument's sake), and I get a mortgage for $250,000 (my name only on the mortgage, not both of us).  

Note I will be putting the land as well as cash to equal %20 (or more if required.) in order to get good terms.Thanks in Advance!

Investment property:1 unit - 15% down2-4 unit - 25% downPrimary residence:1 unit - 3.5% down FHA / 3-5% down conventional2 unit - 3.5% down FHA / 15% down conventional3-4 unit - 3.5% down FHA / 20% down conventionalOwner occupied will always have better interest rate pricing all else being equal. 

The condo building is made up of 3 owners with equal shares in the association (33.33%). 

I'd imagine the interior is equal to or worse that that.

They equal out.

Ultimately, all else being equal, I think you're smart to wait until the end of summer.

Since it makes no difference to the renter on which side of the line he lives, rents are equal.  

Because  CoC is equal to cap rate assuming cash paid is 100% (i.e.