So now you need a development loan once you have your plans approved.. most folks that do land try for owner financing while they get approvals then go for 3p loan once you have an approved project or JV with cash partners.. thats what I do I am a JV cash partner no loans I dont need loans to do these land deals..

No facility at this time.

There's no doubt you'll find success over time!

Also, check to see if you can find lenders with low or no closing costs.Curious—what’s the partnership you’re looking at?

He is no longer responsible for insurance, maintenance, or dealing with the realities of renters. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

So no leasing agent, no maintenance. 

And all properties need to be managed and supervised numerous times per year; giving residents the idea that no one is watching and/or no one cares will be a sure recipe for disaster. 

So there is no PM fee for them to expense correct? 

@Alec Jacobs I have basic low/no fee business checking accounts.