In this case, since they are borrowing their payments, these would get added to the principal balance each month, and interest would be calculated on that.If, for example, the interest rate on the note were 10%, they would implicitly be borrowing their payments at that rate.

looking to expand my multifamily portfolio and always looking to learn more!

BP network - I'm looking for recommendations for quality property management companies in Ocean City, MD. 

I have personally invested more time and money and research into my real estate education then I have in anything else in my life.

Our third partner, who has experience with smaller projects in Detroit, also finds this endeavor overwhelming.

I would say you need to find the contractors first. 

The price we thought was very reasonable in this current market based off the other properties we have seen prior to that with similar layouts. 

If you are buying in a more metro area, there will be lots of choices.In our area, we are quite rural and I couldn't guarantee that I would find the resources to do setup completely remotely.

We would love to learn more about them.

Its just thinking outside the box in this new market.