Private financing proposal is 12 months term, 2% interest only for 12 months, then pay whole amount at end of term with 8% interest, with a note and a Deed of Trust.

What this means is the tenant vacates at end of lease and there is no damage, you have to give it back plus interest the bank gave for keeping security deposits.

(Layman's terms- newly built properties in the nicest areas)Class B: One step down from Class A, these properties are generally older than Class A, tend to have lower income tenants and may or may not be professionally management.

Mark 4s would move the needle my biggest concern is if rates go up enough to push me cash negative at end of first term (5-7 years).I would like to get 4 unit or more of above average quality and rent price property.I believe on what little research i have done i could make a deal like this happen as far as qualifying for a loan and having down payment.

I have a tendency from the days of the Rutherford Reverses to separate the two processes.    

., I totally agree with the exhortation given by @Cal C..I would certainly recommend cashing out the FULL approved amount - but, because unexpected windfalls have a tendency not to be treated with the same care as hard earned savings, it will pay you to be MINDFUL of that fact. 

The transfer of property will most likely happen at end of business day or the following day.

These things have a tendency to implode and change your family and friend relationships. 

Tenants who have a tendency to be late and make excuses, etc. that I call to verify funds on.Nancy

I'm excited about having this tool to use for future downpayments, future cash purchases, or use for rehab costs.That is all for this update - I'll post another after #18 at end of month.