You each accrue interest on the loan you made to your business.

Out of curiosity,  what's the best way to find these 2-4plexes?

@Matt Heath Remember that early in your investment career education is often the least expensive and most powerful asset type to accrue.

Just out of curiosity, are you paying for the garbage service or are the tenants? 

Just out of curiosity, have you had your attorney perform a title search?

Really not sure what the point of the cash out refi is unless the tax debt is significant (and accruing interest and penalties) as his monthlies would still increase. 

Note maturity date: One year or before, after close of escrow as a balloon payment, with accrued interest.2nd position Deed of Trust terms: 2nd position Deed of Trust is divided as follows:A)30% of the 2nd position Deed of Trust is to be recorded with the county recorder, by escrow at the close of escrow, in favor of Seller as beneficiary.

You could defer student loans but that would just allow more interest to accrue.

Just out of curiosity, why are you starting your REI journey out of state or even out of the country?

Usually price.If the absorption rate is pretty low, you'll want to react quickly so you're not accruing empty days on market.