. :)@Ronald Rohde  yes, I can get a 5.75 -6% with my local bank.

In practice how Mello Roos works is you create a political subdivision and apply to the county they approve the area for the Bond issue.. you need Bond council and a investment bank to create and sell the bonds. once the Bond issue is approved this allows the developer to get a Bridge loan to build said improvements ( that are usually 5 to 50 million or so) Once improvements are in  and taken over by the county the Bond money is released and is used to pay off the Bridge lender..

I'm also an owner and now co-host to properties in DFW and Waco, TX.

I also have put a spread sheet together showing the totals for both owner financing and bank loan.

If you do not know how to control money well, adding more to your bank account will only create new problems.

Had our hosting dead for a full week because they outsourced hosting which went off for whatever reason and and he had to depend on them to respond to a ticket.

A lot of them get multiple phone calls or letters in the mail but just keep in mind when you use a Big Bank (FDIC) you "Do not" pay points.

@Carl TrubeWell have you confirmed the bank will let you assume the loan?

These self employed 2nd mtg's are typically based on alternative method of caluclation like profit and loss statements if you're self employed or the last 12 months of bank statement deposits using a formula to derive an income from these deposits (like 50% of all annual rolling 12 calendar month deposits X 50% /12 months = monthly income).

Hi DanI know my bank does HELOCs on investment properties.