You need to not necessarily follow a book to a T, but just basic principles.

@Chris Johansen I believe the part you're missing is you are not "simply loaning him money" under the new iteration of your partnership arrangement.

Quote from @Stetson Miller: Hi @Huong T Nguyen,The summaries above are still up to date with current information.

As long as you specify the bank name, address, and interest rate in the lease, you're meeting the legal requirements.To avoid the hassle of having to have the tenant sign the lease twice, you can simply leave the account number blank in the lease and note that the deposit will be held in a specific account at a designated bank.

Simply sending a query can return no results if that database doesn't contain the information you are looking for.

Most simply, let's assume you do a cash out refi for $336K and the interest rate is 7.00%.

Quote from @Ian Krysztofiak: Quote from @Henry T.: It's a fair proposal, but I would have headed that off quickly and said no in the first place.

That's a real bait and switch scummy thing to do, but I guess I shouldn't be surprised these days. keep in mind this is not usually bait and switch it could be and they are not being scummy.they simply are at the whims of thier senior credit facilities wants and needs..

The main thing to keep in mind as a true investor is, can you simply add square footage to the main property to get the same sale price if you're planning to sell the property.

Multifamily is dictated by investors, who simply view them as a math problem.