.  --- and... these issues become issues for the other Tenant and then turns you into the constant 'utility police' because you constantly have to monitor # of occupants... eww. 50/50 is simple and simply understood and 100% while vacant is also simply understood.

Simply ask yourself the question how long will it take you to obtain 25% or 5% down. 

So, you can't simply trust them to handle things on your behalf and often communication is challenging especially if they choose to make it that way. 

Then, upon resale, does this private lender simply inform the title company of the payoff?

Sounds like you're in a great industry with flexibility and the determination to hit your goals!! 

The IRS requires a very detailed mileage log, so if you are ever audited, you run the risk of losing your mileage expense if you simply estimate.

Now if this tenant would have simply submitted a work request we'd likely have fixed it.  

(Yes, I understand comments provided are simply educational, I will consult with an attorney before moving forward.

A DSCR of 1.25 or higher is usually required.Property Appraisal: A professional appraisal to determine the property's value and income potential.Business Plan: Lenders may require a detailed business plan outlining your strategy for managing and profiting from the property.Experience: Demonstrating your experience with smaller multifamily properties can be beneficial.

.- Appraisal Fees: Necessary to determine the property’s market value.- Closing Costs: This can include various fees related to finalizing the loan, such as recording fees and settlement costs.Inspection Fees: If required, this ensures the property is in good condition before purchase.It’s a good idea to discuss these potential costs with your lender upfront to get a clearer picture of what to expect.