You don't want to put yourself in a position where the balloon comes due and the capital markets have dried up (i.e; 2009-2011) With most commercial loans, there are 4 items that are commonly negotiated or massaged: the % loan to cost, the interest rate, the amortization rate, and the length of the balloon payment.

As for me, im still going to network, keep the powder dry, and pull the trigger when something comes my way that makes sense.

If it would support being a living area (dry all year round, decent height ceilings) maybe make it into a TV room or a 2nd living room with some faux stone, apartment carpet and 2nd hand mirrors from over old dressers.

Didn’t read all 49 pages but some questions/recommendations - don’t mention radon unless your state requires it, it just confuses people - add an early lease termination fee, makes the process very cut and dry if a tenant wants to break a lease early.

Often times interest is raised to stem off inflation.  

So every year ideally you would want a few deals ending while you look for other deals in which to redeploy your capital...or build up some dry powder to be used somewhere else if needed.

The well went dry our third year there so we spent a lot on that, but it was unavoidable.

Let this dry overnight.

He checked our water box on the sidewalk and said it's dry, and suggested that the leak might not be from our water line. 

My tenant has been dealing with a mess, noise, inconvenience and heating a cold house since the dry wall got pulled out in November.