What are cashout refi rates looking like on primary residential these days?

Just like I don't advertise on BP... too many rookies drive you nuts.

I assumed that was a financial model projecting cash flows over time given a certain reinvestment rate.

Most of the lots aren't advertised for sale, but you can use the GIS system and other resources to find and contact the owners.

As mortgage rates eventually drop, your cash flow should improve over the long term.

Yes, in my opinion because of the terms and rates of private money it is best used for short term acquisition and rehab.

I would probably say 506b operators are more experienced as 506c operators can advertise and that’s the guru / marketing route of operators with no experience - let me just whip of some videos and market this thing and figure it out.506b needs the relationships as they cannot advertiseNow as a GP I prefer 506c over b all day long, but as I mentioned above- I agree that no correlation

To address this, we agreed that I would work in the business for six months to verify the financials, which so far align with his POS system.My main issue is that at 23, I don't have strong financials to get a conventional loan at 75% LTV with a ~7% rate, and the seller's lack of financials complicates bank approval.

Pro-rated first month's rent would be due at move in. 

A subject too loan generally had a higher interest rate than the prevailing rate (not all, but that was the general direction of the market).