Just a heads up.So you calculated out you need  $6 million worth of apartments to hit your goal.A commercial loan may require 20% to 30% down in cash, cash reserves, working capital, and closing costs.You will also need earnest money cash.The lender may also require certain repairs to be done Shortly after the loan is made.The lender may also require the Property to be stabilized as far as occupancy percentage is concerned, leaving little on the bone as far as sweat equity.Good Luck!

The mistakes you make will also affect deals.That’s why a good percentage of deals fall through.

(Sorry accident hit post before I finished the sentence)Can you summarize how much you anticipate it would take off your principal over the next two years (as a dollar amount, AND as a percentage of your loan amount)? 

This applies in most areas of life, but if someone is simply agreeing with you, dropping PM fees down a percentage or offering discounts up front and sounds a bit desperate, they could be experiencing high turnover and poor customer retention.

I prefer a PM that charges a flat fee, but many seem to charge a percentage of the rent.In addition to how much, I'd ask the PM how long it takes them to find a tenant and when they start advertising. 

(Note: These are non-negotiable requirements that must be provided) MBE/WBE/Prevailing Wage: All projects that seek City assistance are required to have a certain percentage of Total Project Costs (TPC) that are being performed by certified Minority Business Enterprises (MBE) 26% and Women Business Enterprises (WBE) 6%, as well as have labor costs that pay prevailing wage as defined by the State of Illinois.

A large percentage of coaches are downright thieves.

No one ever says what percentage of their deals are accepted/denied.

I would be as transparent as possible, including occupancy percentages, average daily rate, etc.

Fees can range from $15 to $50 per month, or a small percentage of each payment.