@Pat L.I missed the 19%, but our first mortgage was at 16.8 - a tough five years, but is is what got me looking into variable rate mortgages.There was a historical study of mortgage rates in the Canadian market from post WWII until the late 1990s which demonstrated that if you took any 25-year period [the most common amortization in Canada] and compared 5-year term variable and fixed rate mortgages within the 5 decades of the study the borrower always came out ahead going with the variable rate.Now, with 15 & 30yr terms available in the U.S., I expect there would be times when locking into a fixed-rate long-term mortgage would have been advantageous, but I would expect there would have been as many or more times when it would have not been advantageous.

What I always hear is you need to have a team you can trust and that makes perfect sense, but trust is earned and how do I give all the different players I need to put together the opportunity to demonstrate that trust? 

If this is an clerical error and/or duplexes cannot be condominiums in your jurisdiction, demonstrate you are funded and ready to go, but it is conditional on the vendor sorting out the title.

After an initial meeting with the vendor, we drafted an offer demonstrating how a slightly lower sale price (8%) combined with a 5-year vendor financing & a capital gains reserve could produce more than twice as much net income as a straight sale at the ask price.Vendor was intrigued, but declined due to a health issue (I had failed to pick-up on this issue earlier and focused on the statements that the vendor was retiring and the property was the retirement funds).We are now submitting a straight purchase (which will take more cash out of pocket for us, but cost less in the long run) at the same price (due to current rent rolls and needed updates, we do not see the asking price as being supported).  

First thing I'd do is take stock of who I know who has demonstrated wisdom in your geographical area and are investing in an area that you are interested in.

The seller must be related by blood, marriage or law or demonstrate a long-standing, family-type relationship to gift equity to the borrower.

It will be a good demonstration to the residents and at the same time pushing the drug tenant to the edge.

Typically you use a Regional Center to demonstrate "indirect" job creation from things like construction labor and materials purchases, but the most important thing is to have a project ready to fund.

If you do, I'd get educated about landlording, take the time to choose the best property you can get that cash flows, and pour all cash flow into improving your credit.Once you can demonstrate that you can landlord and improve your credit, you'll be in a better position to borrow and take advantage of leverage, and maybe benefit from appreciation.  

I'm no expert here but I usually look for a personal recombination from somebody I trust and would be more likely to trust someone with a demonstrated high reputation.