Options like a unique amortization schedule or a 3/2/1 or 2/1 stepdown interest rate could provide initial relief to get you through the renovation phase while giving the seller confidence in a structured payoff plan.To determine an entry point, consider reducing the price based on the current NOI.

I’d say if you did 2 or 3 smaller MF deals on your own and they went well, I’d say you are qualified to raise capital to buy properties similar to what you have already bought yourself.2 or 3 smaller MF deals does NOT qualify you to raise capital and buy 150 unit deal.I believe in step by step progress slowly and consistently working up the ladder towards bigger deals.

Before moving forward, negotiate better terms with the hard money lender you initially spoke with and ensure the seller is fully on board with second position financing.

I think if you can nail that down you will be able to find a market easier.As a buy and hold investor some of the things that were important to me when deciding on a market were landlord tenant laws, price to rent ratio, housing demand, ability to build a team, large population 500K plus, multi-family availability and some other factors.take the process step by step and you will be fine. 

Equity split - This is more of a straightforward partnership where profits are divided based on the initial capital invested.

I appreciate you listing the steps you took / people you went to in order to fill the gaps.

congrats on the Naca program I have sold a  handful of my OREO to Naca buyers.. its a great program takes some resolve to go through their initiation process. 

While time consuming, I did learn a lot and was within $2,000 of my initial budget.

I started listening to the podcast and reading real estate books about two months ago, and I’m excited to take my first step into real estate investing.I’m currently in Spokane, WA, and I’m pre-approved for a loan.

Many have never even stepped foot in the US.