The rent from this property covers the mortgage.

Quote from @John Williams: Has anyone been on the lender side of private money and had a bad experience that they are willing to share?

She must've seen the rent roll.And can I get the number of that private lender? 

Mortgage Balance: $430,000 Monthly Mortgage Payment: $3,100 Current Rent: $4,100/month (below market rate, planning to gradually adjust it during yearly renewal to eventually catch up to the market rate) Appraised Value: $900,000 (purchased for $657,000 8 yrs ago) Managed by a property manager Loan assumableProperty B: Located in VA.

I am working with a private investor to solidify a private loan.Thanks!

The strike price follows the declining principal balance of the underlying mortgage.

Sounds like this is a private money lender or a hard money lender.If you are getting funds from another source and relying on that to close, you should not put in the purchase agreement that you are buying with cash.

I am looking to refinance in the near term either when rates drop to the 6.5% range into a conventional 30 year mortgage or as quickly as I am able into a first lien HELOC to be able to park paychecks into the mortgage and save a significant amount on interest or so it seems.

He only wants paperwork on FMLS related transactions - and I do not owe any fees upon closings - if on a non FMLS transaction - just like any private investor purchase or sale.  

Here in Orygun they dont allow bond issue for private development so yes if you get stuck with some major offsites its up to the project..