Once we get half of those Free and Clear, we will be financially independent.

When did you purchase the asset exactly?

If you are interested in the underwriting process and financial model for multifamily, I recently published an article on LinkedIn that breaks down the end-to-end process that we follow to determine the purchase price range for properties.  

@John Mason, lenders will look at your credit history, income and assets held to determine your eligibility for a 15% down payment conventional loan.

My long term goal at the end of my investment journey is to enjoy the journey, play the long game, and  have enough income from my investments that keeps my family well and financially independent.

@Abhishek NayaniWhat’s the asset?

That way the investment makes financial sense.  

NOI, and thus cap rate, feeds into how much of a down payment is required b/c it feeds into the "sizing" of the loan.Many asset classes, like apartments and offices, have less than ideal in place cap rates today, so you need 35% or 50% down to buy them (unlike a DTI-based home loan, your personal W2 income cannot be used to significantly offset).

So maintain this asset is risky.

In a wholesale transaction the seller is in some kind of financial trouble which the wholesaler is helping to resolve.You have two options an assignment or a double closing:I haven't done an assignment myself so not sure completely of the process, but in a double closing there is already a contract with the seller and the wholesaler who is fixing the liens on the title, when that is resolved there is a closing date where the wholesaler execute the contract with the seller and you execute the contract with the wholesaler.In general the closing cost in these type of transactions are covered by the buyer which it could be around 3.5% and it does not include sales agent fees.There is one thing that I didn't understand, it seems that the hard money lender is in charge of the transaction.