Otherwise, price slab, it's so damn durable it makes laminate look stupid.This counter looks as good today as when I did it in 2005.

Is there an offer on the property below the amount of the hard money outstanding? 

.$600 closing costs rolled into the loan...25-yr am schedule with a 15-yr draw period...true interest only payments on the outstanding balance only. 

@Ricky Knack Well, Someone is responsible for it.....typically your purchase price is enough to pay off All outstanding debts, and they simply paid from the seller’s proceeds at closing.  

My wife and I currently own the following properties in Ottawa, Ontario:1 - Primary residence - ~650k value, 475k outstanding mortgage2 - Rental property #1 - ~500k value, 231k outstanding mortgate, HELOC of ~70k available. 3 - Rental property #2 - ~220k value, 145k outstanding mortgageIn the next couple years, we're possibly looking into purchasing a new primary residence and we'd like to convert our current primary residence to a rental property if possible.

I'll have an outstanding HELOC that's just sitting there?

So make sure to keep those in mind should you have those outstanding as well.

Even if you had a super rich family member or a (private Money Lender), they should charge you something for lending the money to finance your "deal" even if it's 1% I wish the damn gurus would change course and tell you that you "Can" start in this business with very little money (wholesaling) but to outright LIE and say you need no money?

It’s a Normal Sale as mentioned....sign a contract, get a title search and title insurance, go to closing, the taxes get paid out of the seller’s proceeds....assuming the purchase price covers all the outstanding liens. 

Took about 10 years (which went by fast, damn) to get to 1000 units.