Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

I’d aim for low downpayment land contracts and lease options.After refinancing out of the FHA mortgage, I’d evaluate if I wanted to repeat the 2-4 unit FHA 203(k) process again or if I had the 20% down to target 5+ units.Good luck with whatever you decide to do!

I'm still in the process of finding an alternative solution but I thought I'd leave this here as a warning for others looking to make a decision.For reference, I'll just post their email response to me here:As we review your inquiry, we would like to remind you of the following key points from our Terms of Use:In no instance shall ShinePay be liable for any of the following:"Lost revenue from service interruptions.Lost revenue stemming from delays, malfunctions of any product.unauthorized gains access to your account or due to shared passwords or if your password is hacked.Destruction to properly, places, or personal injury resulting from the installation, misinstalling, or misuse of any product.Lost revenue from entering the wrong account number for ACH or other bank transfer or money transfers or due to any delay in receiving funds.Damage to your structure, machines or car resulting from use or installation of our products.Any funds collected that are paid to a person that does not own the property.Any harm from defeating the lock and technology that controls the lock to a device.Failure to properly service any product or machine."

It has taken four months.Unfortunately, when probate is involved, the process can absolutely drag out.

@Karin RecaldeWhere are you in the process now?

Once you have a PM put it on market for rent your friend is more then welcome to go through the process with them.

You'll find much greater difference in $$$$$ by refining your location/rehab/vacancy strategies instead of worrying about "how much it costs to borrow money" in this environment.Nearly all of my clients are more concerned with a simple and headache-free funding process, than the "lowest rate."

I have found that the "value add" opportunities, with rent increases, renovations, zoning conversions, and other work needed, absolutely do take up more of your time compared to a more turnkey property - even with third party management overseeing the process. 

From day one I treated my involvement in real estate as a real business.This means, I had an advertising budget, a lead generating and follow up process, a back end process and money source and above all an experienced mentor.  

If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.