We will keep you posted on the progress of the extension as the process moves forward."

Shortly before  hitting that goal though, you will likely feel a bit overwhelmed as you balance your full-time gig with 6, 7, or 8 properties How are your current investments performing?

The answer might be a bit extensive but if someone can explain it in a summary, I'd appreciate it. 

Not saying a roofing contractor would have been cheaper (I am sure he would not have been), just think it's a VERY BAD idea having someone that's not an insured contractor performing repair work....especially on a roof.  

Unless your private lender is so small that they don't mind sharing their bank account information with every realtor/seller you are ever going to work with, not many of us are going to give you our bank statements, and the fact that you have someone else's bank statements would not indicate to me as a seller that you have the capacity to perform to a cash offer contract you are asking me to sign as a seller. 

Many plan documents allow this to stretch to 10 or 15 years with some going longer. 

We DON'T do rooming houses EVER...thes folks all sign 6-month leases and go through an extensive background check...we don't care about credit as that's why the majority rent with us.  

If everything works out in my favor and they do go down, I might even end up making money off the deal if I rent the "efficiency".I know this is an extensive post for a possible basic question but as time is limited I wanted to make sure you experts have all the details of the situation and how I am thinking.If besides of my previous two questions you have any advice/warnings/questions/etc please feel free to let me know.

I am profiting by performing the repairs(contractor) and lending the money to do it.This would not geared towards motivated seller, but just sellers with houses that need work.How can I create a model around this idea?

Disclaimer: I've only ever dealt extensively with houses that were a maximum of about 50 years old (built mid-1960s).