@Steve A SpannIf there are any excess proceeds, they should go to the original owner.

So lets say in ~5 years the goal is to pay off the investors via excess cash flow above the preferred rate and a refinance.

If you have a great deal pertaining to ROI and not to much of an excessive fee then your investors should have no problem giving proof of purchase and EMD within 24 hours.

As far as your moving expense of $800 to move belongings five doors down the hallway, that seems excessive.

In a downturn, if you are doing LTR, look at the average rents in the market and make sure your property isn't worth an amount that would demand rents significantly in excess of that. 

If this is just a market value deal, then paying the excess points to finance the deal twice plus the hard money interest rate that is likely 2-3x (or more) a bank rate could sour the reason you'd want to buy it in the first place.All that said, I don't know the specifics here so just giving my general thoughts.

Some jurisdictions require you to change the locks after each tenant and not doing so could land you in hot water in a court room.In Illinois the Illinois Landlord and Tenant Act added a new section 765 ILCS 705/15, "effective January 1, 2012, requiring landlords in counties with a population in excess of 3 million people (ie.

I can get a true 8+ cap rate in a B neighborhood (about 40k per door) with almost zero effort.Just so all you west coast people don't think we're crazy, check out this Dayton Business Journal Article.Dayton has an abundance of land, and no excessive building restrictions (like San Francisco for example).

For taxpayers in the 25% - 35% bracket the rate is 15%For taxpayers in the 39% bracket the rate is 20%For most capital gains the net investment income tax of 3.8% kicks in on the lesser of the capital gain or the excess of their AGI over $250k (married) and $200k (single).For example, $1 million capital gain, married filing joint, no other income: Capital gain up to $75k (roughly) taxed at 0% Capital gain of $390k (roughly the 25% - %35% bracket range) taxed at 15% = $58,500 Capital gain of $535 taxed at 20% = $107,000 Net Investment Income Tax ($750k @ 3.8%) = $28,500 Total Tax = $194,000 Plus state taxThere are other variables but this is the basic idea.

With no other information, I would lean to putting less down so you have excess cash for other investments.On the other hand, often interest rates are higher when a property is more leveraged.