We are located in California.

Welcome Anthony, We are glad to have you on board!

So I took the red-eye to Indy, and spent a day with Clayton's acquisition manager, Bert Whalen, and Bert's wife, Natalie (the property manager for the whole operation).  

So we are paying higher interest.

My program for my clients models the "BRRRR" strategy and we are having a ton of success with ROI's in the mid-teens on a consistent annual basis!!

Thanks for sharing the details on your purchase I would be curious as well to see how the project went now that we are couple months out?

So we are in the process of getting the lien release voided, and figured I would also reach out the prior servicer, which is still in business, to see the payment history, as my research showed they modified the loan in October, 2010, and they both signed it, so she was back on the hook, and they stopped paying in June of 2012, 19 payments later, so I figured unless she won the lottery, she did not pay it off. 

I have discussed the idea with a friend who is also in the REI space and we are considering a partnership on the new multifamily unit.  

We are into the property $65,000.There are a couple of ways I've thought about doing this:1.

Up until now I've been using private lending partners, friends, and family money but we are buying more homes than we have funds for so am looking for alternative funding sources.