If your lender isn't holding your hand at the point of the cash purchase, based on you sending in actual paperwork and not just talking about what the paperwork might say, then just go ahead and assume that delayed financing is a total coin toss.

Thanks Jason and Steve, you guys are awesome and like two sides of the credit 'coin'.I totally feel the same way about personal credit being more in 'best interest' than creating an alternate credit file via a business!

But I am on the other side of the coin..

Total closing table gain = $4800.GOI: $31,290/yr (2650/mo rents - 5% vacancy + $90/mo coin-op laundry)Operating Expenses: $11,905/yr (assuming 10% maintenance – very conservative for property condition)NOI: $19,385/yrCap Rate: 7.35%GRM: 100 Current Cash Flow: Using conservative numbers for everything, I should see cash flow of around $364/mo or $91/door (Yes, I am living in, but I perform all analyses as if I am just another rent-paying tenant, since that is how an outside investor would analyze this property).

What became of your coin?

You should put coin laundry for sure. 

Example Of A Duplex Deal$50,000.00 All In w/ 20% Down Payment:Purchase Price$44,000.00 Closing Costs$1,000.00Repair Costs$5,000.00Total Costs$50,000.00Income:1 Bedroom upper$525.002 Bedroom lower$625.00Total Monthly Income$1150.00Expenses:1st Mortgage, 80% ($35,200.00 at 6% interest over 25 years)$227.002nd Mortgage, Private Investor Funds ($14,800.00 @ 11%)$136.00Taxes$150.00Insurance$70.00Utilities (water & sewer) $40.00Vacancy Rate (10%)$115.00Repairs and Maintenance (5%)$58.00Capital Expense (3%)$35.00 Property Management Fee (10%)$115.00Total Monthly Expenses$946.00Cash Flow:Income$1150.00- Expenses-$946.00Monthly Cash Flow$204.00Example Of An 8 Unit w/ 10% Seller Financing8 Units at $224,000.00 all in:Purchase Price$208,000.00Closing Costs$1,000.00 Repair Costs$15,000.00Total Costs$224,000.00Income:8 units at $600.00 each$4800.00Coin operated laundry on site$100.00Total Monthly Income$4900.00Expenses:1st Mortgage, 80% ($166,400.00 at 6% interest over 25 years)$1073.002nd Mortgage, 10% Seller Financing ($20,800.00 @ 10%)$174.003rd Mortgage, Private Investor Funds ($36,800.00 @ 11%)$338.00Taxes$450.00Insurance$150.00Vacancy Rate (10%)$490.00Repairs and Maintenance (5%)$245.00Capital Expense (3%) $147.00 Utilities (water & sewer) $300.00Property Management Fee (10%)$490.00Total Monthly Expenses$3857.00Cash Flow:Income$4900.00- Expenses$3857.00Monthly Cash Flow$1043.00Example Of A 50 Unit Deal50 Units at $1,350,000.00 all in:Purchase Price$1,150,000.00Closing Costs$2,000.00 Repair Costs$198,000.00Total Costs$1,350,000.00Income:50 units averaging $610.00 each$30,500.00On site coin operated laundry$500.00On site vending machines $100.00Total Monthly Income$31,100.00Expenses:1st Mortgage, 85% ($977,500.00 at 6% interest over 25 years)$6,298.002rd Mortgage, Private Investor Funds ($372,500.00 @ 12%)$3,725.00Taxes$3,000.00Insurance$1,000.00Vacancy Rate (10%) $3,110.00Repairs and Maintenance (5%)$1,555.00Capital Expense (3%)$933.00 Utilities (water & sewer) $2000.00Property Management Fee (10%)$3,110.00Total Monthly Expenses$24,731.00Cash Flow:Income$31,100.00- Expenses$24,731.00Monthly Cash Flow$6,369.00Financials

The last posted information is that the home was sold to TD Sevice CO in CA. 

The other side of the coin if there is a challenge with the property ( you fired contractors, discrepancies, whatever always let the PML know as soon as possible, but have a solution for the complication.John, hey this is Bernie we had to fire our 1st set of workers, because they stole material, but the good news is we have already replaced them, and we won't miss any progress.It truly is not difficult to find money, we must change our mindset, and believe we are doing them the favor, not the other way around.

On the downside, they cost a substantial amount of coin in order to get those lessons.