While I don’t specialize in multifamily properties, I have worked with many investors in the single-family sector.

While maybe not the cheapest deal, that person emphasized the learning experience as valuable in getting into a network of lenders, contractors, agents, etc.

While you likely won’t owe taxes due to the loss, filing is still required since the rental property is located in Missouri.Kansas (KS): As a Kansas resident, report the rental loss on your KS state return (KS-40) since Kansas taxes your worldwide income, including out-of-state rental activity.Tax Impact: The rental loss reduces your federal taxable income and may lower your overall state tax liability.

You can use HML don't get me wrong but if you just put a little bit effort in to pre-planning and getting all your ducks in a row then going with a traditional community bank would be a better option not only for your current new construction needs but also for future acquisitions.

Don't be fooled by the sirens calling you and also don't be scared of your own shadow. 

Don't make your life more complicated than it has to be.

While his loan isn't assumable, you could structure a deal where you take over payments while giving him equity in a seller-financed second note.

But due to Covid price is double    Buy your miscellaneous at the super Mercado or Asian stores.If you don’t join one of the clubs  Ask your grocer to order 50 bags of potatoes.  

Lived in dumps that I fixed up and sold or rented while working 50+ hours a week at my day job. 

No, I don't have specific carrier recommendations.