I'd be happy to run the numbers and cross-check for you.

Lastly, it could be that the bank is going to portfolio your loan at below-market pricing because they want the entire banking relationship (deposits, transaction processing, consumer lending, etc) or simply want the risk (yield).Lots of local and regional banks have been retaining loans at really aggressive pricing recently as the current environment makes this favorable for them.

How it's being transacted in safely manner is between the syndication and old/new LP investors.

Fannie: B2-1.3-03, Cash-Out Refinance Transactions (02/01/2023)Freddie: 4301.5(a) 3/6/2024

Experience in real estate "dealing" so that when problems with the transaction occur, as they inevitably will, you can draw on your experience to "save" the deal.Enthusiasm is great; encouragement is great; but if it's all not based in reality its doomed to fail. 

If this is true, I would also focus on the types of people that would be helpful in the transaction. 

I find it difficult to step into foreclosures since, in my experience, books and courses I've crossed by are very surface level. 

I've been working with a buyer's agent for many years with several transactions, mostly not investment related.

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

You can go to 80% on a commercial transaction assuming credit is strong and reserve requirements are met.