Reflecting on the last 20+ yrs, when we could cash flow immediately with low cost sfr, had we gone with the higher priced properties and significantly lower cash flow, more debt, we could not have achieved IRRs even close to what the lower end product has delivered, nor paid off the investments. 

You can see these charges added into your payoff demand by line item.

We are looking to open up the wall and then raise the floor and plumb 2 heated and cooled air duct lines to the room.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

The proformas are utter nonsense because they know the product is no longer a viable investment.

Get a line of credit from a bank that leverages your equity without refinancing the properties.3.

If I bought what you are looking at, I would only buy it at a price in which is in line with how it is permitted. 

@Josh Smith just like any rental property you buy, manage, rehab, etc. nobody cares as much about your bottom line as you do.

steps down the line.  

.: Going to be moving to Chicago next year; looking to purchase a rental property down the line in 1-2 years and just really confused where to go.