This provides you with a safety net for any unexpected expenses during the rehab process while also potentially allowing you to secure higher leverage on the purchase price.

Focus on areas with high tenant demand, solid cash flow, and potential for long-term appreciation, and you'll be on your way to securing a great investment.Good luck!

What do you recommend for home security Jim? 

However the event of default just gives the holder or beneficiary of the security interest the RIGHT to accelerate all payments and call the note due..

If I have no mortgage the cash flow is more secure.

Utilizing my relationship with a great local lender I started the process of getting a secured line of credit set up against the 3 unit so I could pull most of my money back out.

Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.

You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.  

But we are also both very used to corporate and used to having a security of a job.

While the co-signers add some security, the family’s newness to the U.S. and uncertain job situation make them a higher risk overall.