Quote from @Mario MoralesMorales: what if he got a HELOC, used the funds to get a property, then cashout-refi the new property and pay off the heloc?

Then for phase 2 you raise $1.6 million and pay off the phase 1 note holders.2.  

I immediately called Financial Freedom they explained that the $200 was for their "pay -site" which includes a free weekly conference call, etc.

Quote from @DR Rearwin: Be aware that if you purchase a property as your principal residence, and later convert it to a rental, the lender may have the option of calling your loan and making you pay it all back immediately, since you have changed the use of the property.I never knew that.

However, my portfolio is mostly B2B and the businesses I work with are comfortable paying the nonrefundable fee plus the refundable security deposit. 

I live in Miami Florida and I pay over $3 per square foot in rent with some going as high as $5.

You won't run into too many with the quality housing, but there might be a few good Sec 8 homes that you get a good deal on and you want to be prepared.Otherwise, pay special attention to the finishes you use as the quality of finishes can leverage an extra 10-20k in appraised value which can get you the financing/refi that you need.Happy to connect and help where I can!

The property was occupied (still is) with 1 tenant that I am now having the exhausting pleasure of evicting. 2yrs later, said tenant continues to try every angle to delay the court granted Marshall’s execution.The “2nd” floor was poorly renovated (bad contractors), new tenant moved in and a year later, another eviction process has started as they lost their job and refuse to move or pay.Stuck with a very large mortgage bill (that I am paying), utilities and making small repairs to keep the property up also noting the casual 311 complaints from both tenants. 

I have ideas of the values, but nothing based on anything concrete.If I take out a construction loan, how do I pay for the construction loan during the process? 

Quote from @Eric Gerakos: Michael, why would you invest in UNSECURED note funds when you can buy notes SECURED by real estate that are currently paying 10% for 2 or 3 year interest only terms?