Thank you for not misunderstanding my previous comment. 

Good luck, I would be nice on this one because you wouldn't want to cause rift between you and a good management company over a simple misunderstanding. 

This came about as a result of multiple lessons learned early in life.Now, with that said I am in agreement with the other early contributors to this thread, regarding your deposit of the funds in a short timeframe prior to the loan processing.Additionally, you need to sweeten the tentative payment plan and not have it drag on for eternity to repay your parents.Don't assume that they have nothing better to do than lend you their hard earned money for an extended period.Put this transaction in writing, so that your feet are held to the fire and there is no misunderstanding later if it's done verbally.Lastly, on the other hand, what if they say no?

Please let me know if I am misunderstanding any of this as I am new to REI.

The same for your funding sources, and so much more.Unless I am misunderstanding what your saying, it sounds like your saying a business plan is not a goal?

Actually, I am quite serious about the scratch tickets, where you can compute an expected value pretty easily.And you misunderstand me on the past performance.  

@Alex Brandt...hopefully I"m not misunderstanding your post, but from what I'm reading, your bank is taking into account the $30k into the acquisition costs, but they aren't counting it as part of your equity/down payment in the deal? 

@Jason ScharfI believe Michael is misunderstanding what you are saying.He thinks you are saying 10 percent total for all of those.I believe what you are saying, is 10 percent repairs, 10 percent capex, 10 percent for vacancy, and 10 percent for management.If this is the case, you may be overestimating10 percent for vacancy is high for a portfolio in the current market, 5-6 percent is more reasonable currently, with 8 percent probably being a good long term number.10 percent for repairs and 10 percent for capex is probably a little heavy.Most likely this will work out of 7-8 percent for repairs a year, and 7-8 percent for capex.If you want to make it simple, as long as you aren't paying through the nose for taxes and insurance which is your only "known" expense when buying rental property.

If they paid me immediately I would chalk it up as a misunderstanding or miscommunication and I would continue as though it didn't happen so long as there was no other reason to evict.  

I do not calculate expenses (insurance in this case) on the basis of rent collected simply because I'm going to be paying the insurance whether the unit is occupied or not.My expenses (tax, insurance, future CAPEX, advertising, etc.) is calculated on an annualized basis spread on a monthly expense amount to give me NET income/month on all of my properties.Maybe I'm misunderstanding something here.