I initially planned on doing month to month lease for incoming tenants just in case I need to let them go if they end up not being the right fit.

One particular lender and when I say Lender, I’m talking about the individual loan officer that we have worked with in the past had a number of his Lending policies changed so we had to start using someone else when he did not have a product that fit .I realize that a number of the replies have come from lenders themselves so they’re looking for faithful customers.

Most of them wouldn't know what an investment property is if it fell on top of them.

Investing here in Memphis, TN might be the perfect fit for you! 

Here's a rough template that you could use/tweak as you see fit! 

I.e. the capital call requirements are full default on entire investment if you don't answer the call.If you are just just looking for a quick highlights off the top of my head, I am happy to help.

So most investors I know are fine with this.I have seen some who will stack an additional LLC on top of it...to be "extra safe" in their minds.

Hi,People always talk about how they purchase a rental property, wait a few years for it to appreciate, do a cashout refi to recoup their initial down payment, then whatever they earn in the future is infinite return.But in reality, how is this truly a "recouping of initial investment" when you have to pay a 4.5% interest to take out the cashout proceeds (with $3000-4000 of closing costs on top)?

So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that.

I would also consider buying a building and remodeling.Budget up to 3mGive me insight and would love to connect to developers or brokers who think they have deals that can fit