same with RE agents brokers who are top producers.real estate investor who made it another profession and slowing morphs into an investor can work less hours for sure but there was a apprenticeship that allowed that to happen..

I'm interested in the 25% down from the private lender and how long you will ride that.

It's hard to know just getting started if we are being taken for a ride or if this is just how the process works?

The private lender was a family member and willing to just let it sit and ride.  

I want to convert it over into a conventional to get ride of not only the PMI, but to then use those funds to later put into another rental property. 

I can tell you that the most profitable way to get into this business and do deals daily is to first become a "real estate agent" then later you will have enough capital to morph into an "investor" & "real estate agent" or a complete real estate "entrepreneur".

Ride out the lease, give them their notice and cut them loose.  

I wish that somehow I could morph and become a conglomeration of the two!

Don't miss the BiggerPockets podcast while you're riding to school :)

My question is would you offer cash for keys up front,  or ride it out and see what happens?