started the interest rate at 8.5% and wrote in the contract that their interest rate will change anytime my bank loan's changes (every 5 years) and will always remain 2.5 interest points above...for what it's worth...i have another under contract that hopefully will close soon..i'd be interested in hearing about this wally wrap as well bryan...what was that?

I'm looking in miami florida for sites where we could get the numbers to work and we are getting close maybe in homestead. with that you could continue to pull cash out after it was built. in our market we need about .1 acres and we get land under 60k that the investors buy. the build cost is about 75% of appraised value or a little less. the investor refinances out on a DSCR loan and continues on. this strategy is ground up and it takes advantage of the buyers market for land in our market.

Quote from @Stanley Nguyen: I have been lending funds to a close friend of mine for a rate of 8%. 

The thoughts that are running through my mind being this close is creating a nightmare in my mind that needs to be calmed.   

For instance, your bathroom picture is so close up that it looks even smaller than it probably is.

Cash deal, no inspection 10 day closing.

And proximity to hospitals is key, within 15 minutes is what I seek.When I was trying to determine demand for our area, I selected about 20 listings near the location I was focused on, and tracked them for several months.

I did find this deal driving driving for dollars, the realtor of the property was adding his sign in the front yard, I approached to make and offer. we close in 3 weeks.

I also have a close friend who only deals in large apartment complexes.

By accident the above example is close to what I experience.