@Chris Hanisco This is a good opportunity to teach your sons the difference in people who seem nice versus those who actually do what they say they will.

I'm interested to find a builder and to hear about your experience in selling modular versus stick built. 

I'm just confused about how the difference between what you have into the house versus what you refinance it for turns into a vessel for repeating the process to buy your second deal.Thank you.

Whats your opinion on what the spreads are much greater with brick construction versus framed construction apartments?

This is a mortgage that has huge advantages to those people that have more money at the end of the month, versus more month than money.

However, if you are planning on using a loan to purchase the property, it can be difficult to receive a loan for an entity versus in your individual name.You also want to look at whether a pass-through entity helps your bottom line and your taxes.

For example, It may be easier for you and your partner(s) to find lenders as individuals and pay into the eventual LLC as equity on the cap table versus filing a brand new LLC and attempting to find commercial credit.

There are definitely ways to reduce this number down to the 6% range.Ultimately, the way I look at these type of situations is if the appreciation over the next 2-4 years will offset rent versus the cash flow you'll be getting from keeping it as a rental.Will you lose money on a monthly basis? 

It can be for 30 years, so lower payment versus a Hard Money Lender.

Are you asking if you should cash out refi YOUR house versus doing a regular loan on the new property?