I financed this property using down payment funds from 403B and a local commercial bank. 15% down from personal funds. 85% down from community commercial bank. 3yr balloon, 20yr amortization, 7% interest rate.

I appreciate any feedback.Regarding Insurance, personally I would never have someone else (A Lawyer) handle the insurance on a Sub 2 deal or any other real estate deal for me, you would be setting yourself up for failure.First of all now you would need to get a POA for the attorney from the seller, that may not be your best move.

This is our boilerplate language:Insurance: Tenant should obtain a renters’ policy of insurance on their personal property.

While this job could be performed remotely, working with my peers in person for at least a year is important to me.

But I don't know your personal situation and all the financial details. 

Keep in mind that DSCR loans are how most investors have scaled. whether its residential DSCR or commercial DSCR at 5+ units. personally, i like them better. few reasons why:1. seasoning period is only like 10-30 days vs 60days going conventional2. seller max contributions DSCR is 3-6% where conventional its only 2% max3.

In my view by doing that and making contact with persons found using the process will result in getting a lot of your questions answered.Have an Excellent 2025,Doug

Great for personal residence but not for scaling.  

It's not a personal sale between you and your son, but rather a sale from one LLC to another.

While some strategies may work here, those strategies might not suit you.I don't personally do MTR, STR, co-living, or other nuanced strategies.