Typically, we also like to put new financing so we can get a couple years of I/O but we did a FNMA loan assumption early this year that has been crushing our projections.

And welcome back to the wonderful state of O-H-I-O!

Since it is a no cash down deal, I don't require the same return as I would on a 20% down deal (w/ ELOC IO pmt).Some will argue against ELOCs and interest only for rate/long-term reasons and it really depends on your market/risk assessment.

Construction loan through community bank, and then refinanced via a non-recourse small-balance Fannie Mae loan (10 year term/30 year am/3 year IO).

Other than google sheets or iOS excel, are there any decent spreadsheet apps so you can crunch your numbers on the go in the field?

@Alina Trigub We went with my sole ownership and 2 years I/O, and 50/50 equity share.

Also the majority of the owners we negotiate with are not professional real estate investors, so they often prefer discussing sales price in terms of "price per pad", as opposed to cap rates and GOI/NOI.

Given that LA is an appreciation market, What are your thoughts on going with an IO loan with up to 10 yrs of IO if I plan on selling in 5-8 y years?  

You pay a local licensed contractor wIth a good reputatIon to accompany you for a second look .have him look over all the structure and systems etc.. have him do quick quotes on issues he sees on a legal pad as he’s walking through each room have him check the wiring the roof the furnace the plumbing .

I’m new so I don’t have any to contribute that are specific to REI, but from my other businesses.Waze + a calendar connection - easiest way to get traffic notices for departure time for your next meeting Outlook - it’s more powerful than the default iOS mail when it comes to signatures, scheduling, and managing emails Evernote - great note taking and overall brainstorming tool Dropbox - self-explanatory.