Do a 5/1 arm @ 80% LTV and get $103K in cash out with payments at $1,790.

Especially if the LLC is owned by more than one member and the members are arms-length. 

If they are 'arms length', a short sale is the best way. 

Fannie Mae explicitly allows you to move title into a LLC.

Everything needs to be done entirely at arm's length and exclusively for the benefit of the IRA. 

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.

No armed robbers... oh, wait... you may have to clear this with an attorney because such a requirement might discriminate against certain disadvantaged demographics.But what if a prospective tenant arrives at an interview with you piss drunk and/or mile high? 

Both of these debt arms will ask you where your equity is coming from and thus you go back to step 1 the equity.Then you pull that off and you had to know this was a good deal from the numbers on a 64 unit deal and the capital needs in order to pull off your business plan.

This is what terms the commercial loans are, which I don't know is good or not:10/3 ARM 6.625% - adjusting at Prime + 1.25% (Cap 2%) 7/3 ARM 6.375% - adjusting at Prime + 1.25% (Cap 2%) 5/3 ARM 5.99% - adjusting at Prime + 1.25% (Cap 2%) 3/3 ARM 5.625%- adjusting at Prime + 1.25% (Cap 2%) 1/1 ARM 5.25% - adjusting at Prime + .75% (Cap 1%) ***Floor: 4.25% ***

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.