(Ours only allows payments in full - they can't bypass late fees).As to delivering notices of NP, we send certified letters.  

Now a permanent buy down option (where they just pay points in a traditional manner) can solve some minor DTI issues.  

If you don't make your monthly payments, they can pursue a foreclosure and take the property back.It's a sale -- albeit one that's financed 100% by a non-traditional lender.

Hey Jessica, 55k would likely not be enough on its own to acquire a multifamily property in most markets when using traditional financing.

Just food for thoughtI agree, and I do have funds dedicated to the traditional market.

We're all here to generate more income, and we should all do what makes us feel the most confident be it turnkey or "traditional" soup-to-nuts.Regarding #2, of course the turnkey company takes a cut, but to me that matters not if they are getting you a better deal than you could find on your own.So my request to you... can you keep us posted over the coming months how everything turns out?

I have been stuck in a rut of thinking that we have to buy our first deal, a house hack, with traditional financing.

That being said, regarding best and worst ways: some of the people I look up to the most in our industry traditionally have quite diverse backgrounds.

Also, unlike traditional conventional 1-4 Unit loans, commercial lending is really up to the lender wanting to do the deal or not.

This means you can swiftly transition out of the business while securing your financial interests, without the hassle of seeking external financing or dealing with traditional lenders.