HI, We are taking over a rental  unit from current rent managament company we had hired.

myrtle beach is a great investment, although I would not personally invest in myrtle beach proper. we are in ocean lakes which is myrtle beach address but us literally on the road that separates myrtle and surfside.

We are holding and will continue to operate this for years to come.Lessons learned?

So as long as you know you have 25 to 30% of the proposed deal in cash.. thats one.two do you have experience.. these are tough to get for first time borrower. ??

I'll keep this post short and sweet: We are currently buying two properties under 50K each, but total purchase price for both properties would be 80K.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Ruby.

Purchase price: $575,000

Cash invested: $60,000

2 unit investment that has a 3 bedroom and a 2 bedroom. Great yard a...

"It was my intention to hold this property for a very long time"....what has changed? 

I have a friend in that business who would be using his own money and charging at his cost.Yes, my goal is to put $835K as my long term down payment and finance the rest so about $630K loan amount.

So, I am allowed to do the 150’ expansion, as long as it accommodates ingress/egress.  

The property has been owned outright for over 70 years, has had the same tenant over 50 years (a utility company), and we are looking at taking out around 40% LTV, and the mortgage payments would be covered 2-3x by the rental income, so very stable, safe lending situation.