The balance on my bridge loan is $120,000.

I want to stop being pennywise pound foolish and get things set up properly. 

Work in a balance reduction if you pay it off early?

Perhaps we "buy" the house from them for the $328K balance to satisfy the lender and don't need a large down payment and then have a separate contract with them to pay $x per month until we've paid the full $172K amount.

Hey BPers!
Just curious where each of you stands on this one.  I realize this is a case-by-case basis.  Sometimes the tenants plan on paying a month's rent at two places to allow a less-hectic move.  However, this co...

The remaining balance is paid once the project has been completed. 

Trying to balance proper due diligence against my desire to just acquire a bunch of mediocre units!  

It's called a payoff statementif it's a big lender you will not buy the loan as it will take forever, you are better just paying it off. you then can foreclose based on the total balance owed to you which is both loans and any accrued interest. regarding fixing property or selling as is, that really depends and needs to be evaluated on a case by case basis 

The 1st position loan is paid off but has a second position heloc on the home with 50k balance.

Would the 9-year balloon concern you, knowing you'd need to refinance or pay off the balance at potentially higher market rates in the future?