I doubt the numbers work for say, the "BRRRR" strategy (which aims to get you all your own outlay back again upon renting out and refinancing - while still showing positive cash flow, rather than selling).Are you an experienced flipper?

Second Lien Position: 700K.

As for the next loan, in my mind, getting something to give me a loan, at a reasonable rate, as long as my rental units cover the mortgage plus slightly more, I'm still coming out net positive which is more than if I don't do it at all.

But, the main thing is to keep positive and keep looking. 

Time for you to start attending board meetings and running for a position on the board at the next opportunity.

All of our guesses - and that's all they really are, educated or not - are based on our own experiences, values, financial position, abilities, etc.

I press with legal to force the borrower to make a decision on 3 exits, once they choose the exit, It's up to me to handle exit and put us both in the best position. 1.

My first one I house hacked with a VA loan and now has a positive cash flow after I moved away.

A lot of times motivated sellers need cash quickly and are not in a position to carry the note and wait.With that being said I don't see why your plan wouldn't work as long as the seller understands the terms.

We have an FHA loan and I don’t think I’d qualify on my own (not positive).