That sounds great although like I mentioned, The property would not cashflow unless I put a significant amount of money into the principal. 

I see some pretty profitable deals there, and there are a fair amount of profitable STRs in the Snowshoe and Canaan Valley area. 

I did what I felt was good amount of due diligence, but in hindsight I missed some deeper layers of analysis. 

In some instances the estimate may be less important but rarely if ever do I not see a requirement for no appraisal unless the value is 4x the loan amount.

Simply put, there are a limited amount of PMs that will operate in the area, so I ended up with poor management.

You can't actually pay it off directly because they've been securitized, and the people who invested in those securities did so because of the specific certainty of the payment schedule.What you do in a defeasance is use the proceeds of the sale or the funds from your new lender to purchase treasury bonds that are packaged to make the exact payment amounts and timings on the remaining term of the loan, and then assign those bonds to your old lender.

Now this depends on how much you want to raise, if its $1M yeah that can be done, if you go above $5M you are gonna need to spend money and I would assume someone starting out 10% of that amount to get there.

I found a 3-unit property for $629K on the west side of Chicago (Wicker Park area) that will cash flow.Issue is that the foundation is settling and will need to have a significant amount of work done according to the sellers agent and the inspection that they had.

Proof of claim reserves any rights you have; if you have a lease with the tenant your “claim’ is the amount of future rent owed on the lease.  

Henry the returns were 12 to 17% depending on amount invested and how long you locked up. the other thing that this fund invested in was  defunct brick and motor like radio shack  stien mart etc with the idea that they were going to turn those old name brands into  on line sales .