Do you have a lender that you are working with yet? 

I'd be careful about refinancing, as it costs thousands of dollars in closing costs (lender fees, title fees, recording fees, etc.).

You don't need a "mentor" to understand OPM, you just need an investor friendly lender to work with that is a bit more consultative, there are a few out there.

I'd suggest talking with a lender about SBA or even better, USDA lending.SBA will probably get you a 10 year term. 

You should certainly start the process earlier than maturity, especially at the very least within a couple months of the maturity date - there can always be things that cause delays and pushes and even missing the maturity date by a couple weeks can have harmful consequences (since it will technically be a default / missed payment even if the lender is OK with it).Also, commercial loans even with the strictest prepayment protections / lockout periods will almost always have at least a 3-month open period prior to the Maturity Date

I highly recommend that you tune in to the BiggerPockets Podcast and connect with the local lenders and brokers.

In order to accept you as a TIC there must have been some relationship with the lender that allows them to carve out that % interest. 

Hi Layne,Any lender who does FHA or conventional should be able to talk you through this and it is a very common situation.

Just be calculated and make sure you don't strangle yourself.Otherwise buying off market will be your best option, but buyer beware and you need some more money to take over a decent sub-to deal or utilize a hard money lender.

Hello, I'm looking to go to lenders sometime soon to get pre-approved for an FHA but I have lots of questions whether or not I meet the qualifications especially with the price of duplexes in Pensacola, FL.