We expect most or all of the remaining 5 to catch up on the rent or make an arrangement acceptable to the owners.How do you target a specific tenant pool?

As you stick with 506b, do you open the doors to unaccredited investors as well (on some or all deals)? 

If you are modifying a loan, it is possible to capitalize some or all of the arrears by adding them to the UPB (by raising the UPB and extending the term, for example).

There are scenarios in which some or all of the depreciation taken (or that should have been taken) is not taxable. 

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

So if you pay down a little on each loan there is no benefit till one or all of the loans are paid off because even the last payment will still be your min monthly payment from a month to month cash flow perspective.From a psychological point of view paying one off faster is also better because you can see results quicker and it will take less mental will power to push forward paying the 2nd, 3rd, and so on because your mind will see results from the first one relatively quick if you focus.Hope that helps.

Conventional Lenders (Mortgage Company/Bank/Credit Union): These lenders provide conventional real estate loan loans, the most popular being the 30-year fixed amortized loan.These loans require 3.5% - 20% down payment and require Private Mortgage Insurance if you have a down payment of less than 20%.These are the lowest cost loans you can get for acquiring properties.Private Money Lenders: These lenders provide non-conventional real estate loans using money from investors who are seeking “bond” like security with above-average returns.These loans require 25% - 35% down payment.These loans are more expensive than conventional loans, but less costly than Hard Money loans.Loan terms are usually 12 months to 30 years.Hard Money Lenders: These lenders provide non-conventional real estate loans from investors who are seeking double-digit returns over a 12-month time frame or shorter.These are the most expensive loans and they require typically 25% - 35% down.The loan terms are as short as 3 months and no longer than 18 months.Equity Partner: This is a private individual or company who invest with investors in real estate deals.They usually will bring their cash to the deal to cover down payments, closing costs and rehab costs.They usually will make the majority of the profit from a deal because they are taking the greatest risk.Some Equity Partners hedge their risk by taking a 2nd lien position against the property and having all rents assigned to them in the event of the Investor defaulting.Some Equity Partners are silent partners while others are active participants in the real estate deal.Equity Partners may enter into a Joint Venture with the Investor.Investor: The Investor is the person or company purchasing the property and creating the real estate deal.All investment fall into two categories: appreciation (buy low and sell high) or cash flow (regular cash payments).The Investor purchases the property to either sell it a higher price or to rent/lease it to generate cash payments.The money earned by the profit from the real estate deal divided by the cash investment from the Investor is the Return on Investment (ROI).All our appreciation deals generate a cash-on-cash ROI of at least 25% annualized (before taxes) and our cash flow deals generate an ROI of at least 10% annualized after taxes and depreciation.Management Company: The Management Company manages the real estate deal for their client (Wholesaler, Equity Partner or Investor).The Management Company puts the deal together to maximize their client’s ROI.The Management Company may manage one or all aspects of the real estate deal in order to manage, control and lower risks and costs.Our company charges a 1% transaction fee based on the value of each transaction (purchase, rehab and sale) and we share in the profit realized by our client after the client meets their minimum ROI.Seller: The seller of the property controls the property and may or may not be motivated to sell.

If you're going to live in a certain geographical area anyway and your choices are; buy a $300k property and get no mortgage help or, buy a $300k property and have the tenants pay a large portion (or all) of your mortgage...not sure there's even a question there?

Also, you need to define what your investing strategy is going to be or all of this is moot.

As for funding it, I have 3 different options I am thinking of and each one seems to be a function of how much time I will take to re-hab, hold it, sell it, or all three.