The overall LTV (including all 3 mortgages) will be key and your selling point will need to be that the 2nd mortgage ($8k) will burn off in 2.5 years (based on your surprise that it was even out there, I'd recommend that you follow up in 2.5 years and ensure that it's been satisified, so that it doesn't surprise you again in the future).Does the $8k grant vest over the 5 years? 

But honestly I don't care how many courses you take you must have a local team or you will crash and burn.

@Jonathan S. you'll get burned if you buy real estate rentals and do not, "manage your manager".Even the BEST make mistakes and no one can catch every mistake.So, it takes a team effort between a PMC and an owner to make it work:)

My point is, because some people got burned 10 years ago in the fiscal crisis doesn't mean one needs to be extremely conservative with leverage.

@Melanie P.Thank you for your response.I agree with you there are a LOT of garbage syndications out there and I know a lot of people that have been burned by them. 

Other's are cautious to share their resources so they dont burn bridges if things go south with a referred investor.

Failures: Had a house that burned down this month that wasn’t insured as high as I should have.

I was burned out on renovating the property. 

I'm burning the boats on this one and making it an obsession.

If you have money to burn, and actually have a successful investment/loan with this company, let us know!