Out of curiosity, do you happen to know anyone in my market (Southern NY-Westchester area) that may be open to a discussion in this industry?

Keeping in mind after 5 years I should have accrued $25,000 in equity in with zero money of my own?  

Hi BP Experts,I was checking for one of the listing in market and found that though listing has 1.5 bath , however franklin county website shows only 1 bath in the plan.Checking are there any implication associated with purchase of such property like legal actions at later point of time, getting it financed etc or this is completely common in Columbus / Ohio market.Also out of curiosity what does it takes to register this .5 bath to Franklin county and can it be denied, if so what's the further actions associated with same.Thanks  

Does the 10% interest accrue monthly?  

I'm in the process of getting my WA license and do not have a MB to ask, yet, but have similar questions out of curiosity and preparation.

Interest will accrue while payments are deffered.In reality, no, banks don't make loans without loan payments being made, but there are examples, like a construction loan for 120 days.

Unlike a self directed IRA or 401k where the investments are at arm's length and all returns accrue tax-sheltered back to the plan, this business will operate in the taxable realm.  

Something was mentioned about no prepayment penalty, which is a good thing, but payments are first credited to accrued interest, not principal, attempting to change this with a no PP penalty would then mean if a borrower made a $5.32 payment weekly in addition to the monthly payment, every time a payment was made it would be necessary to re-compute the loan and amortization....not good and you would end yo ticking off any seller (because their Realtor would see that was not common practice).

@Mark Mynhier Thank you for the info, out of curiosity, why did you stop attending "MasterMegaMind"?

Liabilities accrued need to be adjusted and paid.