Now that the moratorium has been extended until June,(thanks Joe) we anticipate tenant may get yet another adjournment.

I’m assuming this is the extended date of May 17th this year.

I was trying to possibly extend time between purchase and rehab and not feel the squeeze ofinterest building up.

@Lane KoehnIt looks like you are setting up an entity taxed as a partnership.Just a reminder that a partnership return will need to be filed by March 15 with the ability to have it extended to October 15.The partnership return needs to be filed before any of the partners/investors can file their individual tax return.You should consult with an attorney on drafting the operating agreement.

It's a boatload of money for two weeks, with the option to extend.

@Jonathan Levi SO MUCH OPPORTUNITY in Large Multifamily right now... you just need to make sure you're in landlord-friendly markets without Rent Control and extended eviction-free policies. 

My thought is if I happen to need money I still have my line of credit I’ll get it, but with a new property been bought with cash it should become a moot point and I could extend my line of credit if I needed it.

Why not extend closing two months with an inspection contingency?

So that's also enough to cover any cap-ex expense, a decent make-ready, or extended vacancy. 

This financing is stretched out over an extended period and is at a relatively low-interest rate backed by the fed.