Local community banks have a greater capacity to be flexible in their lending criteria, but only exercise that flexibility to the extent the know & trust the borrower.

@Anthony Morvillo honestly my stress is mitigated by prayer, exercise and healthy reserves.

Most importantly - doing something to start over doing it perfect is a powerful exercise

That way, if you default on the loan they can exercise the pledge and take ownership of the LLC, without having to go through the real property foreclosure process. 

The books follow the following format:  (a) topic, (b) explanation of the math/tax reg, (c) an exercise that walks you through applying the formula or concept and (d) a link to an online resource that you can use for future reference.  

Greetings everyone I live in NY and want to exercise the Brrrr strategy out of state I’m thinking Pittsburgh or Indiana the thing is I work full time and want to know what is the best way to utilize this formula without me being there because I need someone to stay on top of contractors and make sure things are getting done I would greatly appreciate all your feedback thanks

Additionally, their lease is for 3 years and I doubt that it would become vacant but if it were to become vacant, then I would be able to just recoup any turn over costs with the next option fee).Second position lender gets $200Cash flow $310Cash on cash return 310 x 12 = 3720/11000 = 34%Lease option sales price $239,900.Total estimated return if the tenant were to exercise the lease option the last month of the 3-year option period 239,900 - 151,000 loan balance - 24,000 - second position note + 11,100 (310 x 12 x 3) for cash flow = 76,000.IRR over 3 years would be 76000/3/11000 = 230% per year.

It can get complicated so please exercise due diligence.

It's like the diet and exercise plan for losing weight....it takes time and consistent effort. 

Generally they have the ability to manage and bind the GP under state law, regardless of whether they exercise that ability.Again, entity structuring at the outset becomes paramount here.