The reason I'd be happy with 2 million is that my end goals are freedom and security, not necessarily the best return on my money.

They will not want to see any member with a low score (below 680, for example).For the second part of your question, they may follow that formula (which is a formula for conventional lending), but your LLC will not be able to obtain a conventional loan, rather a portfolio loan from your local bank, and they may well want to see signed leases and proof of a security deposit.

And if they sell it, they have to pay $30K right off the top.Yep, there are intangibles like being able to pound a nail in a wall or paint a room purple without worrying about your security deposit.

Here are another few pieces of advice that can help - especially if you have a full time job:* Cell - Buy a pre-paid cell phone and record all the details regarding the property (how much, how big, verification needed, security, etc.) on the VM.

Accept a down payment, security deposit or application fee that are all non refundable?

Large security deposits required by utilities for commercial accounts

:)In all seriousness, you want to start asking your professional friends (high income earners such as doctors, lawyers, engineers, etc) and your older friends (those who might have retirement funds they aren't yet using), and see who is looking for a better return on the cash they have sitting around.Then pitch your *low-risk* opportunity (explain how it's secured by real estate worth a lot more than what you're borrowing) and see if they're interested.

We went back to the Court House (4 blocks away) and he paid the trustee and the sale was officially cancelled.

Buy cash (not recommended), secure financing through a Commercial lender, get seller to carry financing, or buy subject too the existing mortgage.

And they're somewhat state specific because of certain statutes, such as CO detector requirements, lead paint disclosures, maximum time security deposit can be held, etc.