And then it might have the option to extend it to a nice round 5 years if/when the current tenant extends. 

Both companies have been wonderful to work with, and the families were also great.Always make sure to reach out to the company before placing new residents as they have a high liklihood of needing to extend.

Bank would want 20% down (200k) and the State on board prior to releasing funds for buildout.

Most come out ahead over an extended period of time by buying better quality assets where they perhaps have to leave some capital in the property but find themselves able to sell for real gains or refinance out appreciated equity and scale more effectively that way. 

Why I am leery of these "creative" things for people with little to no money One of the concerns of going to fast is over extending beyond their resources. 

By way of example, a lender may charge retainage, only release soft costs upon C/O, may limit loans to a set number of draws or only allow draws once a certain dollar amount of work has been completed.

I understand this is part of the learning curve, and once I can have the PM "release" me, I might consider it and save 3k/yr!

So as a result of my “asset protection” procedures, the end result was that instead of being sued personally and having to spend the time, money and emotional stress of both defending my self AND suing the insurance companies and condo association, the plaintiffs accepted an ASSIGNMENT of proceeds and signed a form releasing me and my LLC from liability in exchange for the right to go after the insurance companies themselves. 

The residences and addresses in the State of Washington also confirm that Ron Fossum is the current CFO of Norada Capital Management and the former defendant in the settled 2018 SEC legal action.Fossum’s criminal activity appears to extend beyond his past fraud with the three above-mentioned funds and his concealed position as CFO at Norada Capital Management.

The potential benefit is qualifying for a possible 100% in 2025 that may or may not be extended back into 2024.