This platform offers excellent networking opportunities.

You can also do this on a refinance.Else, you can find private money, take out a HELOC if you have a lot of equity, go hard money and then refinance after, or see if your preferred builder offers financing.

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

If the place is in decent shape I would offer to credit it toward the next month's rent and write addendum including no future pets.

For this reason, I would take inventory of the local banks within your target markets that offer financing options that best serve your real estate needs (again, usually the smaller local banks), and build depository relationships with them.

They perhaps can build cheaper than you can, finance cheaper, operate cheaper and to get it leased up, offer things like 1-2-3 months free rent. 

Understanding your market, what you are offering, and the kind of tenant you can expect to attract and KEEP will help you determine how to screen.

I'll reach out and see if any would be willing to offer some sort of mentorship. 

Invest with syndicators who have a narrow niche and proven track record.For example, if an operator has done 5 or 6 workforce housing value add deals in Dallas, and they are offering a similar deal now, that would be encouraging.if however, their current deal was a brand new luxury Class A building in Charlotte and this was their first acquisition in Charlotte and their first class A deal, as an LP I would pass.Find operators who do one thing and kill it in that space.Find operators who own or have gone full cycle with similar assets in the same market.For example, my firm, Spark Investment Group has a very narrow niche - sub 100 unit MF or BTR in Greenville SC.

We had a couple "we buy ugly houses" type companies come in and offer less than even the lot itself is worth.