That is why, for tactical reasons, many investors with large overbids lay low, make no waves at all that would alert somebody to hurry up and redeem, and simply wait for that three year anniversary to pass. 

@Mike Dymski spelled out standard underwriting requirements well here for recourse debt.I had 3 of these and am celebrating with each  payoff.  

If you can source the capital to return all units to rent-ready and the owner is willing to carry 100% financing interest only on a 5+-year balloon ... you might get these turned around and performing by the anniversary and be able to finance more conventionally.Pending the total number of "potential" units, 198K might be reasonable {if the adjacent buildings are also of similar size (5-8 units) }, but looking at the numbers and condition (based on pictures) on the 7-unit alone, I'd be aiming a fair bit lower than that.

I've celebrated a couple payoff success stories here on BP.

It’s also their 17th anniversary so they are blowing out this event and will likely attract a big crowd.If you go, you can meet one of my favorite property managers, Barbara Habbeshaw of AZ Residential Management.

I'm not sure if there are any celebrity owned duplexes in Raleigh but I will keep an eye out!

@Jeff Brower, I was thinking of joining the Great Lakes REIA but the meeting this month is on my 20th anniversary.. which would likely be a bad move- I will look into the timing for the November meet up- Curious where you found the multiunit in CF- Do you use the MLS?

To celebrate my husband and I went to see a movie that gives me nightmares to this day...PACIFIC HEIGHTS.Fast forward to a few years ago (we are talking a 25 year span here) and I have another trying to pull this same stuff...but Im on to the game now. 

Well I put 6k down last year for my wife's anniversary present. 2014 Toyota Camry SE loaded.Payment isn't much only the high 200's monthly after down payment.Had old cars paid off for years and years.

I suggest you offer upgrade as part of a lease anniversary gift.