What are your plans on cash, are you pouring them back into the business, planning to sit on a pile of cash just in case, or are you siphoning money out of the business hoping to draw income that just can't be supported at the moment. 

You also get a new draw period and new interest only period. 

Also curious based on the rent rolls, but as you stated, when new the rents were high but as your multi gets older the rents drop due to more competition.

Make sure you discuss the logistics of taking draws with your lenders ahead of time so they give you the green light.This is in fact something that can be done and investors do.

Explore partnerships or collaborations to draw on each other’s strengths and resources.

Always be willing to walk away, or, if you really want it you're going to likely pay above what makes the most financial sense to you based on pure math. 

You need to develop a base of knowledge.  

This is going to sound sacrilege but I think you should get a W-2 job in real estate based on your end game of wanting to be a developer I would look to work for developers, custom builders, surveyors etc.

Hi Shane, I want to tell you something from my research because it seems that we've been doing the same thing when it comes to educating ourselves on RE.Given that you already have 20k, which is around half of the down payment, try to leverage family and friends as private money lender in order to complete the down payment.Second, depending on how long you had your primary, assuming that you did not cash out anything from the equity, you can try out this option ( no need to cash out all, just cash out the amount that you need to make this deal happen).just my humble opinion based on what I have learned!

Have them refer you to an attorney to draw up a NNN lease.