No prepayment penalty.Our goal would be to purchase the property with the above terms; add value to the property over the next 4-6 years and refinance the owner out with long-term, fixed, non-recourse, agency debt.

Do you have to call several agencies in your area, and then average them to find out what they are? 

I"m told that if it goes to collections that they can have no more involvement with it, and then I'll have to deal with the Collection Agency solely. 

These are so called agency loans made by Freddie Mac and Fannie Mae and are generally only available on loan amounts above $1,000,000.We are closing a 43 unit acquisition with a Freddie loan today with a sub 4% rate and one year interest only.Agency debt is not easy to get - one must have prior agency debt experience to get an agency loan - not to mention high net worth and lots of liquidity.One might logically ask about this seeming Catch 22 - if you need agency debt experience to get an agency loan, how does one get agency debt with no agency debt experience?

I really wish all the agencies trying to help renters would also tell them that willingly not paying rent will eventually bite them in the butt instead they just give them the letter of the law and don’t explain the ramifications of late payments.

I will have a collection agency go after your bank account and get a garnishment on your paycheck.

You would be correct, we hold broker's licenses here in NC, but the way agency is structured here is with a Broker-In-Charge (BIC) essentially serving the same purpose as a Broker in other states.

The only old phase 1 reports that tend to be electronically available are those produced for government or public agencies.

Reaching out to family, emergency contacts and state agencies is always a positive. 

Most times, these loans are sold on the secondary market to institutional investors like insurance companies and/or Govt agencies (Fannie Mae, Freddy Mac), so the bank issuing the loan makes the majority of their profit off the up front lending fees rather than long-term interest payments.  4.5% actually is decent to lock in what are still historically low rates!