Very cool piece of real estate, unfortunately it doesn't even make sense at the $650k asking price.

Basic q - do I have to liquidate to pay him back in cadh OR can I use the stock to pay him off?

@Abby Blumenfeld Very cool!!

The cash you have on hand in liquid reserves allows you to focus on properties that "Are Not" turn key and could use a little TLC or renovation. 

We have managed to build a solid liquid nest egg, but I'm hesitant to lock the majority of it up in a low LTV mortgage on a really expensive primary residence.

As a wholesaler, having the first look at a property is a cool perk of the skill set. checking to see if the numbers work comes first, but secondly if not first part A, how will the property be managedAnyone investing in multifamily out of state, what’s the difference between the different amount of units?

I cant tell you how many rescue loans Ive underwritten for small businesses who relied on a LoC for liquidity and then had the line frozen or called unexpectedly.

Naturally, he made a cool $1k!

Keep liquid reserves from the start (issues like to crop up right away).  

If appreciation is slow and steady, and no extra liquidity is available, the basic fundamentals of personal finance do catch up to this investor.