I am now 29 and wanting to grow at a faster rate- and also ensure that I am making smart moves, rather than just grasping at whatever a bank will give me.

Yes that’s why I want to hold onto it is obviously because of the rate. 

I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this.

I expressed my objection to the rate.

- very low remaining mortgage balance!!

That is the best option if you are truly trying to help a family member.you cannot get control of the mortgage, you can do sub2 but you are not in control, the bank could call it due if they see the property transfers title.The other way is for you to buy it from them at market rate, then rent it back to them at market rate.

Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

Banks don't lend so little on traditional mortgage and hard money lenders don't go there , so no option for average Joe to get a qualified mortgage or for Jim the Handyman to finance it.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Hello All, I have a client asking if they could buy a portfolio of 5 properties (at a "packaged deal" rate) and sell off two of them to recoup some of the initial down money needed to buy them.