The only instance where it might be more beneficial to do it this way vs. getting financing right off the bat is if you need to be SUPER competitive with your offers in your market.

All LP equity gone.Even before interest rates took a huge jump: property bought with 75% LTV first mortgage, pref equity up to 90% LTV, and funded last with LP equity.  

I agree that efficiency is a huge part of that equation, and the more efficient the PMC, the more they can stay profitable with lower fee structures.  

We are only selling completed homes with our own in house financing currently at 3.75%, a huge discount from most bank rates.We are a long time property provider for some of the bigger podcasters: Real Estate Guys Radio, Marco Santorelli (Norada), Kathy Fetke (RWN) Jason Hartman ( Empowerd Investor) GRE (Keith Weinhold), Whitecoat Investor Group and more We also work with American Homes for Rent, Invitation Homes, Crescent, Haven Realty (JP Morgan) to name a few on the institutional side We are partially owned as of 2022 by Sumitomom Forestry, which means we have no bank debt and self fund all our building projects.

Don't forget to change all your faucet aerators and shower heads to low flow it makes a huge difference as well as far as water usage and saving HOT water. 

If you own 25% or more of any LLC you are required to register with a FINCEN ID for beneficial ownership by January 1st or you could be subject to $500 per day fines.Have you taken care of business?

In my area there is a huge waiting list for Section 8. 

If you want to nestle into North Scottsdale, you can get the big house and a decent lot, but it will not be a huge lot. 

Speak with someone you know in leadership or on staff and express your interest casually.Frame It as a Solution: Highlight how purchasing the property could be mutually beneficial.

Huge counterparty risk, I am just working through a scenario where a correspondent HML in the midwest got defrauded from bad diligence and their funding partner is having to clean things up.