That seems like a more realistic result than just “talking to the bank” and having them agree to let the arrangement continue.

It sets you up for a more focused, confident, and sustainable start.

If it would help to get a more detailed estimate feel free to reach out.Documentation is rather limited, just ID, bank statement, LLC documents to start.Sometimes there are interest-only options at 30 and 40 years, generally the difference in payment fully amortized over I/O is minimal so it may not be worth it.

If syndicator is building reserves for the first year of ownership, for instance, and not paying distributions, AND recognizes rental profit, you will have a larger tax bill that year, since you "made money" in the IRS's eyes, even though you did not receive any cashflow from your syndicator.On a more general note, a preferred return does not mean you will get that amount of cash flow each year.  

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Quote from @Michael K Gallagher: we've generally seen a more balanced market here in central OH. 

I admire that you've handled most of the filings yourself, but I’d prefer to take a more hands-off approach.

If I have a property well below market, I would offer a more agressive rate to try to bring it up to market asap.

Then MAYBE you'll have enough income to lice off your rentals.Again, a more likely timeliine for this is around 10 years or more.Good luck!