This is anecdotal information based upon the interviews I’ve had with operators across the country.

This is really a lot of information packed into a densely worded post.Yes, you can use loan proceeds to buy out another member, but it doesn't seem like you'll have enough to buy out and develop.

Are you wanting to purchase in the same area of Chicago?

In addition to the different tracks @Chris Seveney descrubed, there is also good information on creative financing and seller financing (including what to avoid).

RentRedi has options of "Accept", "Reject", and "Request Update (more information)".

We did that for about 3 years until Jeff informed me he'd fallen behind on property taxes, and all of his lenders called the loans due.

The information contained in this post is not to be relied upon.

I’ve never sold a note so going to ask some information from the experts.

Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.

The information contained in this post is not to be relied upon.