It does not matter whether you are starting a real estate business, restaurant, car wash, or amazon commerce business - the lender will first look at you and your partner and how much skin you have in the game, your experience and the risk of the loan not getting paid. 

Whether I find a new tenant or not, the departing tenant moves out after 30 days and is treated like an ordinary termination, which means I process their deposit like normal and they can earn a good landlord reference.2.

Insurance is for the "normal" what-if's.

Toledo's Lucas County Metropolitan Housing Authority...LMHA which administers the Section 8 program seems to have had a difficult 2016 and 2017 doesn't seem much better.I've been renting to Section 8 for seven years now, I still have my original tenant in fact, and normally I find great satisfaction in renting to good tenants and working with the bureaucracy that comes with a government program...I had 10 properties rented section 8 at one point and have slowly prioritized standard rentals over the program and now am seeing blatant issues with their operations causing me to move away from considering their tenants.Delays in the program: We used to have 5 business day's delay for new-tenant vouchers to be reviewed and processed for inspection but have been going weeks before we hear anything.

He gets his price and you get terms, but less than normal because it's such a win.

Welcome to the BP Forum and being overwhelmed before you make your first acquisition is totally normal.

For us in the PDX market we saw a little slow down in the fall but thats pretty much normal but the bigger builders are still buying land and still building at a pretty good clip..

The interest rate on a HELOC is usually higher than a normal 1st lien mortgage, but I am seeing some cases where HELOCs are in the 6's and 7's (where credit score is high and LTV is 65% or lower), which make them pretty comparable. 

Books are important to maintain because it keeps track of the performance of the partnership not only for one year but over several years.Partners normally have the right to inspect the books.Will the accountant you work with either maintain the books for you or help you make sure its done correctly?

I normally just do new construction on these pemb, so I have never done an actual modification of an existing pemb to increase the square feet.