I then spoke with the buyer and his agent, suggesting we use a commercial lender I had worked with for over a decade, who could provide an answer within 24 hours, contingent on a new appraisal.

I understand this is a good way to become financially secure over time and am eager to start.  

In the last 5 years, we've invested over $300k of savings toward down payments and rehabs. 

.) • Multi-unit would only support a %, so a quad would 25% and prorated over all years of ownership....witteling advantage to not worth the effort. • Single unit properties get pro-rated.

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

There was an article published in Sept 2024 that showed the average consumer would save over $10,000 by working with a broker vs a direct lender over the life of their loan. 

Maybe try to find someone like that who is just starting out and realizes that real estate is the golden goose over building their own law firm?  

They are likely not bad people but they do not want to spend $3,000 and be kicked out first night on a noise complaint. 

Over time, I discovered mistake #2 was not buying them right.

You are way too over leveraged."