It's tempting early on to leverage as much as you can so you can do more deals and keep liquidity, but increased cashflow especially with PMI will make you sleep a lot better at night.

This one was strange because I ended up splitting the companies and partners involved in the deal so we liquidated halfway through the project. 

But then again a large swath of syndicators that jumped in when they did have had major struggles to full blown liquidation and 100% capital loss's..

boils down to real estate is a long play and people have tried to turn it into a liquid asset which it is not.

Unless you're working with Private Money that is going to carry the risk of your lack of experience, banks want to see experience, Net Worth and liquidity after close to consider the terms.I started with single family, four plexes, and remodel flips for a lot of years before getting into larger deals. 

Liquidity is important if this is money you plan to put to work in the near term. 

.), index funds are likely to provide an equal or better return with a MUCH lower hassle factor and more liquidity.

If I were in your shoes, I’d look at the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) to stretch your liquidity while building equity and cash flow.

Liquidated DamagesIf the Subcontractor fails to complete the work by the agreed completion date, liquidated damages of $[Insert Amount] per day will apply.

@Ken M. if the Morby's subto wrapper cant payoff the underlying 1st position loan when it's accelerated because of the sale, then he/she would have to liquidate the wrap note (by selling the note) to generate the cash to payoff the underlying.