@Chris Clothier  posted his stats  on their company.. maybe you can find that post.Majority own 4 or less ( mortgage slots) however many own more than that.One of my vendors in another market has one client that bought 60 plus homes from them.. although he is fully engagedlast time I was on a vendor trip and in their office this guy was there working with maintenance teams and PMs.. usually financing is the hold back to larger portfolios.

Montgomery County, Northern Virginia, DC proper, and PG county all have some great areas to live.

STandard promissory note .. do you have a mortgage or deed of trust to go with it to secure your interest.this is called gap funding and the rates are quite a bit higher than what they are offering.also if this deal does not go well do you personally have the money to pay off the loan take the house and finish it or sell it or if the first went bad would you get wiped out because you do not have the money to pay off the first.Personal guarantee's are worthless.. in 99% of cases  if it comes down to you having to sue on the PG means your going to spend big money with attorneys to do this and the debtor 9 times out of 10 simply files BK.so that's the other side of the coin.. the rest is how much U trust them and how much money you have to protect yourself. 

I have seen presentations from not-new sponsors where a return metric listed on pg 2 of their material is higher than what you get when you do the math with their own pro forma in the same material.I remember one case where the headline summary had a yr 1 CoC of like 12%.

You have easy access to a hot market -DC, PG country which is very growth and development friendly and Baltimore which is a bargain market with easy opportunities to cash flow.

The higher the ratio, such as 2% properties in southern PG county, or 3 or 4% properties in Baltimore are indicative of high risk properties.

.: http://www.bidkw.com/auctions/how/348) and on their brochure (see pg.6 "terms of sale": http://www.bidkw.com/files/uploaded/auction_348_2223.pdf).

DEFINITELY not ready for anything larger than 4 units yet.I assumed commercial since there are several posts about using up ‘slots’ for personal mortgages- of which there are 7-10 apparently (?)

If I was intent on buying right now I’d have three criteria (one of which is gonna be extremely hard to find in nova and hard but maybe slightly easier in dc, pg and parts of moco) 1.

I don't think you have to use specific contractors to complete the work, you only have to use a 203k consultant - pg. 386/1009 There is no specific time frame that repairs must be completed in a 203k loan.