For quickie emergencies there are always the "18 months no interest" options at Lowes or Home Depot along with similar terms from your credit cards (those checks you can write for a 3% fee and then have 12-18 mos to repay). 

Originally posted by @Sky Mikesell:1% of gross management fees for one year is standard fair here in north carolina.  

Originally posted by @Gregory Jerome:Alot of selfish liars on this post, we all know most ppl who get into the business started from nothing to make something. 

Originally posted by @Andrew Joseph:@Zach Quick it is a single family house, and no I never been out to Pittsburg KS.   

If the ROI seems low or if the renovation costs are prohibitive, selling might be a more practical option.Cash Flow Analysis: Currently, your property isn't cash-flowing positively when considering your mortgage, management fees, taxes, and other expenses versus your rental income.

If not, maybe ask for slightly more interest or fee, knowing that you'll have more time and cost involved if you have to take the property back.Is the buyer going to pay you monthly payments of 4166.66 for 24 months, or is this a smaller payment with a balloon? 

This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.

However I hear the same thing about most rehab owner occupied programs and the rate on fees on this is a lot lower than a 203k or home style.

The seller needs moving money, there are oftentimes an arrears that has to be paid on the loan, there are oftentimes HOA fees that are due, there are title costs, there are escrow costs, usually there is deferred maintenance, you have to make mortgage payments out of pocket until you get a renter in there, you have to pay utilities and taxes, and you need reserves in case it all doesn't go as planned.3.

I am a first-time property owner, and I just purchased a triplex; I kept the original landscaper.