It was a no go.

If you want to grow your RE portfolio - taking equity out of your existing properties for that purpose is a no-brainer.  

Since that was half of what I was paying my landscaper, I figured it was a no brainer. 

I am not a no money down kind of guy.

well assuming it meets the QM rules for owner occ.. etc.the scenario you presented is not a very attractive note unless the discount was HUGEPV is what investor look at.... what rate of return they want and in notes its usually 8 to 12% APR but with 100% leverage most investors will only pay on face value about 60 to 70% LTV ... so right off the top you would be taking a substantial hair cut.No secret what your trying to do.. but I surmise you will very quickly realize its not realistic .. the discount would be such that it makes it a no go.If your thinking someone will lock up their money for 10 years at 5% well thats not going to happen especially at 100% LTV... 

It gives you a firsthand account what burning hard work, a no nonsense/balls to the wall, desire to dream enormously attitude can do.

Prime -0.51% with no closing costs and interest only at 80 LTV is a no brainer.

You could get a no income verification, no title seasoning, cash out loan (the rate is above bank financing, but certainly below hard money commercial) and pay back your family/friend.  

That last bullet point makes it a no-go for me because I need an option period to inspect the house, get contractors bids, and make sure those bids are below my repair budget.

At first, I thought the student rental market was a no brainer here, but after talking to a couple close friends, I'm not so sure.