I was told I still had the option to initiate a transfer, however, I would have to pay the 3% transfer fee and pay the variable 14-24% interest rate while funds were in use…Just like that, 40k of capital to go out and buy assets and get them to cashflow……gone.As a value-add real estate entrepreneur, I understand with every challenge encountered, there is a lesson to be learned and an opportunity to evolve.

In the interim, I had reflected on potentially shady pattern in my interactions/encounters, I decided to cancel the deal per the contract as the title was not deliverable by the closing date, confirmed by the title company.How do I get my earnest money deposit back, and when does the title company give it back? 

I would start with some of the educational material here on BP in order to get answers to those questions and the many others you will encounter!

But when I look at properties now it’s hard to find anything that makes over $100 a door unless it’s a D class.This is exactly the problem we are encountering as well.

Also, what legal ramifications I could encounter?

So what I’m looking for is feedback based on these numbers what everyone’s thoughts are on these three options and what other obstacles I may encounter based on this potential upgrade to 5 units.

Renters shouldn't mind encountering those (and absolutely - a few discreetly placed traps).

For those who own on the islands, what pitfalls have you encountered and how did you overcome them?

Hi @Chris K.I appreciate you getting on this thread, I will look at future doc's that I may encounter.

It's a very common overlay you are encountering.