I was contacted by Steven Klaus supposed to be a broker of Skyrocking Capital Solution and he approved loan for  multifamily purchase with 100% financing @6% and requested to send Origination Fee of 2% before the disbursement.

Originally purchased as worker housing for another business but now use a rental.

Payoff amount was higher than original purchase price (after paying 200 per month for 18 months).   

Originally posted by @David Krulac:@Ray Slack  It should go toward lien in a certain order, so if there are other liens it possibly will not be paid off. 

Also what kind of origination fees/points would such a loan incur? 

-the departing and remaining residents will remain liable for all Lease obligations for the rest of the original Lease term.

Try starting with the lender who gave you the original 2nd loan, that’s how i started and then started making calls.

From your original Post "The appliances have been supplied in complete working order."

As mentioned in the original comment, I believe many of these properties will shift back to long-term rentals or single-family homes.In North Georgia, where I’m located, we’ve seen significant changes in our two most popular STR markets—Fannin (Blue Ridge) and Gilmer (Ellijay) counties—with nearly 1,000 active listings, a 42% increase from 2023.

With everything pretty much being new I feel reasonably good and have somewhat of a “it’s meant to be feeling” with the original buyer struggling to get the funding together to complete, allowing me the opp to finally secure.