Hard money is a type of business loan for non-owner occupying investors.

So you pay for it with a credit card and when the bill comes you make the payment.

Pyment is $1,054, but $625 is interest.If you sold current house and bought new one with same mortgage amount, but current interest rate of 7%, the payment would be $1,663, interest amount $1,458.So, the interest cost difference would be $833 month!

When you said you had some money saved up, I was thinking that meant you would have enough for a down payment on an FHA loan.

When I told him it would be a very bad time to sell the mortgage notes as there were almost no buyers, he said he didn’t realize we were investing in non liquid assets?  

Lastly, ADUs are allowed for NON owner occupied properties, opening this strategy up for investors who could convert a SF into two units. 

there is no bank, no mortgage, and therefore no due on sale clause.if there is a mortgage in place, and you take the payments over, this is typically referred to as subject-to or sub2 and is much higher risk for everyone involved.

Can I find 15% down payment options do you think? 

She can set up payments to be paid on the 1st of the month and no one is driving 24/7. 

If you had no knowledge and they broke the lease I'd issue a notice of non renewal, but give them the option to remove the cats.