@Chris MartinThe point is from my perspective I'd rather have 2 or 3 investors for $800,000 than rather than 800 investors.For one the 800 investors are by definition less sophisticated and less experienced.

Your private lender, as you named him/ her, sounds more like a very sophisticated investor, as such, you agreed to some very steep terms.

@Bryan Hancock You are an extremely sophisticated investor, and very educated on all the regulations, etc.

Is there any other collateral, such as inventory, machinery purchased or property from the use of the funds?

Salesmanship needs to be more sophisticated than selling balloons at the fair or shoes getting customers involved in games.

Combine that with the fact that many of these apartment buyers were rookies and not sophisticated, they had no clue how to manage from afar and these units became problematic with high vacancies and lots of deferred maintenance.

The amount down is always negotiable, depending on the level of motivation of the seller and how sophisticated he/she is, you can sometimes get 100% financing!

The buy and hold properties are the money making machine that buy the next generation of money making machinery and it is off that machinery that I live of.

At the undergraduate level there is very little need for heavy math machinery.

@Brian Sealey NPV like IRR ard DCF are great for convincing an investment committee, outside investors or sophisticated jv partners to come on board a deal because they're comparing what you're offering to what other shops have.