Used enirely OPM to buy this one, and borrowed money from a family member who is in commercial real estate to do the renovation.

our market is in Columbus Ohio and we are currently doing infill as a strategy. single family home by right can be built on any infill lot in columbus but for multifamily this strategy becomes part of entitlements and rezoning. 

I've stabilized that hemorrhage and have made good progress to reducing this debt but a recent chat with a conventional lender didn't seem to yield any options due to the DTI issue. 

If you have any experience or knowledge in the Memphis area, will you please share your insight as to whether this is a normal fee breakdown or too much.

This team consists of an Investor Focused Agent, Lender, Contractor, and PM.Read this article on the "core 4".

I spent months reading, browsing forums and meeting with other investors to prepare.

Depending on your flavor, this could be good or bad.Connect with a great property manager early on, as many won't work just any property in any part of the City.Being an east coast city, our housing stock is fairly old and unless it's been properly rehabbed, will have typical "old house" maintenance.None of this is meant to discourage you from investing in multi units in Baltimore, but I'd try to set realistic expectations about the market here.TLDR; we have a wide variety of "multi-unit" structures in Baltimore.

My lender says that shouldn't really be an issue, but just wanted to see if this was too good to be true!

This keeps things safe and makes it easy for contractors to get in without you playing doorman all day.🔹 Step 2: Get Your PermitsNobody likes dealing with permits, but skipping them can mean big fines and major delays.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.