Leveraging Brittany's local market expertise, we secured the property for $200,000.

I see this as HUGE security when investing in Lexington.

The seller (also the landlord in your scenario) will also want to get a security deposit, which is refundable, and typical.In these types of deals, the buyer often doesn't have the cash for the down payment.

ITs certainly in the ballpark but I think you can do better most likely - especially with your experience of owning five rentals - certainly some options here on BP to shop around - but the rates and points seem a tad high - you could probably secure something with both a lower rate and origination (and potentially no appraisal cost as some Hard Money Lenders don't require them)

I assume the security deposit is one month.

Leveraging Dale's local market expertise, we secured the property for $60,000.

You are going to have to have power nearby but it could be a good addition to your outdoor security.$59-$64 Zinus Van or Abel platform bedframe, king or queen -  https://www.amazon.com/Zinus-Platform-Support-Mattress-Found...https://www.amazon.com/Zinus-Platform-Support-Mattress-Found...They are very similar but the Van is 16" and the Abel is 14" so that could make a difference.

Hi Quynh, the main questions you'll want to find out as you look for a loan on this property are:Does this property need rehab, are you looking for a bridge loan to secure it quickly, or are you looking to hold this as a long-term rental?

The next day I spoke with a principle at Secured Investment Lending who was very responsive and I closed earlier this week.

Has anyone stopped to wonder why some Sponsors can secure commitments from the more sophisticated check writers while others have to target less sophisticated investors and spend significantly more time on the capital raising to compete for the same buildings?