I make it a personal goal to never turn down help.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

I recently came in contact with a RE investor who is farther down the line in his career than I am.

I live in the city and have a freakish map of it in my head that my wife is still shocked by when she gives me an address ("2100 block of _______Ave.?"

Because of the frustration, when asked to purchase the large lot in front of their house which leads to the main road, they turned it down.

.), or pared down?

It seems like there's a lot of opportunity right now in that SEPA and South Jersey area (I'm on Long Island but have worked with folks who operate down there), and you're setting yourself up with smart partners, so you're ahead of the pack here already.I do have a good relationship with a strong commercial brokerage firm in that area, let me know if that would be a useful connection for you.

.), and anything else that is important to them.Ask follow-up questions to dig deeper and learn more (without being too intrusive) then jot down any relevant notes so that you can reference them down the line during your follow-up calls.

Initially I really wanted to do a STR down in North Padre Texas (as it is a place I have vacationed for years and have stayed in at least 8-10 of the STR in the exact complex im looking into, I see how my STR could stand out amongst the rest since Im huge fisherman down there and that is mainly what those STR are used as, already have boat rental option setup if I go this route, list of fishing and possible guides to go with depending on style of fishing, family, fun, hardcore wade fisherman etc etc and equipment rental available for those that do not have.), the places im looking at are decent $ properties that after running through calculators etc showing 18-22% CoC after management fees etc.But after listening to BP for about a month, now thinking BRRRR possibly and doing up here in the DFW area.

(See this Colorado Sun article, about 3/4 of the way down.)