You actually end up making the tenants utility bill go down while you pay what the difference is had there not been panels; to a bank.

My assumption is that when negotiating the purchase of the property I would have to pay off the mortgage, or would I be able to Pay off the taxes and maybe provide the current owner with some cash and then work with the bank on the mortgage?

These loans often have more straightforward qualification requirements for investors with multiple properties but may have slightly higher rates.Cash-Out Refinance on Your Single-Family Rentals: If each has around $70k in equity, a cash-out refinance could provide some capital for the down payment, renovation costs, or even help you buy the 4-plex outright.FHA 203(k) or Conventional rehab loan: If you’re planning to occupy one of the units as a primary, FHA’s 203(k) loan or a conventional renovation loan could help with purchase and rehab costs at lower interest ratesPortfolio Loan: Some local banks may offer portfolio loans for investors with multiple properties.

Banks ask for larger down payments to shift risk to the buyer/borrower in default. 

Except the bank, they loose, because now your partners and you are getting what $ they would have sucked out of it. 

It will be helpful if you get that lease resigned before approaching the bank.  

Some are basically renting out bed space and require tenants to sign an agreement to stay clean, and be tested upon request, with failing the test potentially leading to immediate eviction.

Did you use a local bank/credit union or a private lender?

Hi,If I buy a apartment doing a seller carry back, how do I explain to the seller how they are protected if they carry a 2nd position note subordinate to the bank?

Hello All,I recently heard on the Biggerpockets PODCAST an Ad for Found.com (Banking and Bookkeeping) and went to check it out, however it is only for single member LLC's.