This particular home was under the Fannie Mae Homepath program which limits the total amount of money you can have wrapped into the loan.

Hey @Chris Serger here is some information on the details you have provided.7% preferred return - This is the return that the limited partners will receive prior to the syndicator getting paid out of cash flow.

They may, but If they do not, and you walk away, you will be out the cost of the appraisal and any inspection or loan application fees.

Go home and call all of your credit cars and ask them to lower your interest rate and raise your credit limit".

However, there are limitation.

For those of you who still do applications in paper, how do you collect the application fee and photo ID?

Have you ever heard of banks having in-house policies limiting mortgage opportunities to only primary residences? 

offset=0&limit=24& https://alndata.com/market-reviews/https://www.yardimatrix.com/MarketsAnd I am not affiliated with any of those websites.Good luck!

Call the servicing Utility to get an average on the property.Once you get a property under contract you will be digging deeper during the due diligence.Holding costs include (but not limited to) loan payments, insurance, taxes, utilities, HOA fees, etc., that occurs during the Rehab period and up until the property is fully rented.  

However, you need to understand the process well before hiring contractors to limit the likelihood of them ripping you off.All of the being said, I too prefer the buy-and-hold multifamily rental property strategy.