The pre-existing relationship has been further defined as knowing whether the investor is  sophisticated or accredited before you make the offer; so you must have already had a conversation about the investor's finances and their business, finance, or investing experience to know if they are sophisticated or if they meet the qualifications as an Accredited Investor (for individuals: $1M Net Worth or $200k income if single; $300k income if married). 506(c) allows you to raise an unlimited amount of money from an unlimited number of verified accredited Investors.

I will post an update once I do but until then here is what I know:You can apply within 12 months of commissioning (and either up to 6 or 12 months after commissioning -- I'm going to call USAA and check on that timeline).I'm not sure of other qualification criteria but it seems like a loan that is fairly easy to qualify for..

This is called foreign LLC registration or foreign LLC qualification. 

Another thing to note is houses that are in foreclosure are not typically in good enough condition to meet an FHA loans qualifications.

If you plan to keep all of these long-term, you could do a portfolio loan and combine all 6 into one portfolio. it sounds like they're cash-flowing, which would be the majority of the "qualification" on portfolios, and you could take cash-out based on a combined LTV on all 6 of them.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

Consider him to be your next/only tenant when screening.It is a major newbie mistake to only consider the qualifications of a existing tenant when taking in a additional person.

If the deal is solid, and you as a borrower meet the basic lender's qualifications, the process should be pretty quick and easy.Get the properties under contract, collect all of the information regarding the deal, pitch it to lenders, negotiate terms/rates if possible, and then send the package to title for closing.