I applied for HELOC (for more buying power) and also for a conventional loan. 

If you are in charge of minor maintenance issues make sure you budget for these items.

You stated that you would like to use a minimum down payment of 20% which would be $10,800.00 on a purchase price of $54,000.00, on a 30 year Conventional fixed rate program with today’s rate of 6.0%.

And they charge for it.

This loan is a one time close that offers rates comparable to normal conventional rates.

I read some mixed reviews saying that they have hidden charges.

If these are not good choices who do you recommend for your first multifamily conventional loan?

In the future, you might look at more conventional renovation financing vs hard money. 

I just closed on a duplex in Las Vegas and my rate at 25% down for a 30yr conventional was 5.2%.

There shouldn’t be any extra charges for mobilization or other upfront costs since he is so far into the contract.If not, then having given proper notices and record retention is important in “termination for default”.Otherwise, you guys need to figure out how to agree to part company.