Hello- Does anyone know who can loan on an 11 unit multifamily in Michigan and meet the following criteria-65-70% LTV(650-700K Loan)-NO tax returns required -Sub 9% rate-At least 5 year term.

(State of Michigan, to confirm).Thanks all.

If not (or if they fail to respond), I send them a 30 day notice to quit when I'm 30 days out from the end of the lease - in accordance with the Michigan eviction process.

- Mary 

From Miami Florida but looking to invest in Mississippi, Alabama, Michigan to begin.

They are looking at selling their house in Michigan where my mom has resided the last 2+ years.

Hello Rafael, I strongly recommend looking into the Detroit, MI market.

@Mary Pastoral- thanks ....I think you will need to use option 1 as the other options dont appear to be viable to raise the capital needed ....consider a conventional loan for the new purchase as the down payment can be as low as 15% of purchase price ....good luck 

I'm proud to say that we landed in what I believe to be a better deal: three duplexes from a single seller in a West Michigan location that we are very happy with. 

@Jack Mi: my first impression is anyone that is buying a deal at a 4.5% going-in cap rate with 7% interest rate is anything by conservative.Now, there are so many details missing that it is impossible to give any true thoughts.The things I like:No up front fees, so less motivation to simply transact10% Co-invest is pretty good80/20 (assuming there is no second hurdle) is fairly good.Things that give me pause, based on what is actually presented:Going-in cap rate is very slim.