Your loan will be $1,100 a month, add insurance and property tax.

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

Rates are hovering in the mid 7s depending on your credit score.

Other than paying for an appraisal or BPO (and maybe a credit report), you should not pay a lender anything until your loan funds.

. :)  these are not credit score loans ( I mean I have a credit score) but thats just a formality its all about capital and relationships with your bankers and deposit relationships thats key as well.Yes your relationships with sub contractors will be a huge factor in profitability, both direct and indirect. 

THANKS Your local credit union might be your best bet.

I have also been doing quite a bit of research on Loan's, tax consequences etc., and am working towards being a expert in this niche.  

Bank Credit Line How did you add value to the deal?

No matter the number of units, there is one roof, one property tax bill, one sewer line, one gardener bill, etc. 3.

It may be too late.yup stop payment.. also for future reference if you cant pay cash for these kind of educational events don't do it.how are you going to do business if you have to charge this to even get started.. this is the very thing that really bugs me about the real estate education sector in the US>. talking people to go into credit card debt when they know full well only 10% or less of folks that try this or any kind of wholesaling / flipping/ notes / lending etc will do anything .. and especially if you have no capital.