Loan:$20k down, 3 year balloon, 4% interest amortized over 30 years.Sale: $727,000This was a 4 unit property located a few blocks from the beach in Panama City Beach Florida.We decided to sell due to the amount of work needed with no renovations and sold for $727,000 less than a year later.

Here is how I have it right now:PP: $3,000,000Entry: $450k + CCInterest: 3.25%Monthly Payment: $12,000Balloon: Split Balloon- one partner wants outin 3 years the other at year 10.

Letter of intent to the owner? 

Sending out letters.

Hell, you could offer 12% interest, interest only payments for 2-3yrs then agree to a balloon payment.

Overall they WERE problem free tenants until yesterday when we received a letter from an attorney stating one of the three brothers has been arrested for possession of child pornography. 

These allrequire applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also requireinformation for the previous landlord of all applicants.

she said your leads they are responding to the messages, i said what that quick already, WHILE SHE WAS ON THE PHONE WITH ME SECONDS, crazy so i really like that aspect, it felt better than using the hand full of mailers i sent you just don't know if they ever got the letter or not and me being new i needed to see some action progress, moving forward i work in collections so I wasn't afraid to talk to people, basically I think that's the only way you can fail if you don't respond, i know people are afraid to talk on the phone , anyways that's my experience hope this helps.

So, for any of these people to complain about America wanting to help disadvantaged citizens because it is 'taking away from other citizens through taxes' is delusional and ignorant.And the thought that comes to mind is how MLK Jr's 'Letter from Birmingham Jail' still rings true:"First, I must confess that over the last few years I have been gravely disappointed with the white moderate.""

I have never been sent a letter from the city regarding this.