All of these things change over time. 

We let the inherited tenants know of the change of ownership and gave them a formal notice to vacate.

Good luck trying to replicate that across multiple markets.If a market is working for you and aligns with your goals, why change it up?

There are so many variables and some of the biggest misunderstandings come from regional variances on how these variables are handled (mortgages & financing especially).I had thought progressing towards multifamily and then commercial was the obvious path to follow, but one conversation changed it all.

Just about everywhere in the US uses some version of IRC for its base code and then makes some changes to that as they feel necessary for their locality.

The market is ALWAYS changing but I know at this time, seasoned investors are getting 80% LTV on DSCR in the 6% range and 90% of PP/100% of renovation if total loan does not exceed 75% of ARV for FixNFlip loans. =)  

Sharing proceeds can be documented through a contract or settlement agreement without title changes.

If the lender originally did not believe they needed an appraisal, then most likely, something changed due to underwriting and an appraisal became necessary. 

Recently, management changed it so both loans can be made with one payment versus two separate transactions. 

Helps me reflect on the day and see what needs to change in that