Quote from @Jaren Taylor: Quote from @Chris Mason: If you have the ability to market and raise money, then you secure the down payment, and do the normal commercial mortgage process. 

Owner carry financing, hard money for renovations, then refinanced into a long-term mortgage.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

At the time, PPR was selling courses for investing in distressed 2nd mortgages.

If anyone has experience with taking over a mortgage, I’d appreciate your insight. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

But, know what you want to accomplish beforehand.Creative Finance is a great way to buy properties when done properly and lawfully. 

When you're talking about interest rates dropping I think you mean mortgage rates but the government isn't getting rich off of those.

It's properly leveraging (not over leveraging) the asset that pays off.  

Structuring the agreement properly, outlining how profits will be split, who covers the rehab costs, and what the timeline looks like can ensure the seller feels confident in the process.