@Demetrius Davis I've noticed the 10% too, and also seen 5K or 10%, whichever is greater for cash offers.

This feature does allow you personally to borrow up to 50% of the plan value or $50K (whichever is less) from the plan for up to 5 years.  

I would look at it this way:On one hand, I can try to find a local bank that will like me enough (yes, it's a person-to-person relationship in these small banks) to give me the loan to refinance but they will do LTV or LTC whichever is LOWER and will usually use the current NOI as the bases of valuation. 

I was under the impression that bank are  either 80% appraised value or buying price whichever is lower in the first year, hence brrrr isnt an option with hard money.

Good luck which ever way you go.

Your basis will be what you paid for it plus any improvements or the fair market value, whichever is lower at the time it was placed in service as a rental.

Simply click on my name in blue then scroll down to REI Weal Builders and the web address of the group OR whichever LinkedIn group you're interested in.

Something you and your brother have going for you is that whichever place you buy, you've got Prop 13 rewarding long term ownership on top of all the other stuff going on.

We are open to partnering up with an experienced real estate investor and contributing in whichever way it makes sense to build upon our foundation and understanding.  

Further, just because there is an expiration date does not make it 'yours to sign' until the expiration, it is only 'yours to sign' until either the expiration or its withdrawal, whichever occurs first.As Jay Hinrichs pointed out, sign as soon as you decide the terms are acceptable.Finally Chris, what you were describing, that you had until a certain time to sign the contract, would be more of an option contract, i.e., the offer would be held open for a certain period of time, and you could enter into the contract at your option.