Experience depends on who you deal with - the cleaner the loan file and more organized your paperwork the smoother the process with any private lender.

Possibly break loan covenants and can't cure default, lender takes back property.  

You could get a loan from a local bank or private lender to fund it

If you are interested in becoming a landlord or buy and hold investor a great way to get started is by house hacking a multifamily with an owner occupied loan. 

For a first time investor, I definitely recommend house hacking for most people as homeowner loans are by far the best in terms of rate and LTV. 

Hello, my name is Julian. I am a licensed realtor based in Atlanta, Georgia, and I am currently working on obtaining my mortgage origination license. I am 14 hours into the 20-hour online course offered by "RealEstate...

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

Hello @Fulati,With that budget, I would look for houses in East Memphis, Cordova, or Bartlett.

You borrowed $388k and you’ve paid your loan down to $384k with your $30k in payments.