I know some mentioned about developing banking relationships and I totally agree with that, so here is what you do. 1) Open a business checking account in the name of your LLC to hold the assets. 2) Deposit your cash into that account to fund the real estate purchases3) After owning for 60-90 days, talk with a local lender about a line of credit against the 2 properties at 60% LTV. 4) After about 30-45 days, have the line open to use if you need that liquidity that you used, but until then you are not paying 7% interest on nothing. 

Its hotel law not landlord law.Check your local laws about this.

Quote from @Frank Chin: @Matthew SpiegelSome years back, I used to go to the local building or planning departments, and get the information from the local offices directly.

In any event, better communication could have been had to keep you in the know!

The only way I would ever win a MF deal in DFW would be to overpay - I wouldn’t understand the sub market like the locals do.Pick one or two markets you can get to easily.

If you are a business, 3 backup is best. 1 Local (in your business environment, like a back up server.), 1 stored in a cloud environment (and secured) and 1 off site.

Networking with local investors and building relationships can also open doors to joint ventures or mentorship opportunities.

@Tanarat Bunchom Thanks i think that will be the route I go, A local bank in the area. 

I personally feel like 30 days is more courteous but as long as they abide by state/local regulations they should be covered

Your attorney or CPA should be able to create tax efficient structure for you.To avoid this, keep management and decision-making localized to Alabama, and consult a CPA or attorney to ensure compliance with both states' regulations.This post does not create a CPA-Client relationship.