The lender will charge a ridiculous amount up front to close, but that comes out of the LOC, so you still end up only putting in the initial deposit.  

I initiated the eviction process when the tenant was two months behind on payments.

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options You posted this same thing three times - in two it was a 36 unit and in the third a 32 unit.Do you have any other details about the transaction or perhaps wish to share your initial analysis so the volunteers here can poke holes in it or tell you why you're right?

The 1% "rule" is not a rule, it was a simple guideline that was supposed to help do a quick initial vetting of a deal.

Being able to visit properties, oversee rehab projects, and manage your team is crucial for successful investment.Ultimately, there's much to consider beyond the initial purchase and rehab.

Initially, we thought this would be enough to get us through until I found a new job.However, things took a turn today.

And when I was doing aheroshome.org and doing 1 hour consultations to BP members for a donation to our Charity..

@Sean Gallagher - My initial reaction is that if you're thinking about a property manager to help oversee the daily operations you're probably at a point where you need to get one.

This outlook is reflected in the prices resulting in poor initial cash flow but historically great long term cash flow. 

Their REITs were initially sold to the investing public at $10.00 per share.