Owner says they owe $204K, want their initial down payment of $25K back.

This is odd because I obviously secured a loan when I initially moved into the area and there are other condo's that are being sold and have been sold recently.  

Don't forget to account for an initial capex hit if there is deferred maintenance.3.

The initial investment is more affordable, however the returns are all relative as well.

@Justin R.I assume that this Owner Contribution can be pulled back out of the business at any time, such as a point when I can take a mortgage out on the investment property, to pull my initial investment out?

With respect to refinancing when RE values are low, this is why we like to keep our LTV at 65%, when the 10-year balloon comes, our LTV is about 51% of its initial value.

IF there are down payments or rehab costs then create a separate pivot table to recoup your initial costs within 5 years and provide yourself a reasonable interest amount while paying yourself back.

My initial plan was to buy a pretty cheap terraced or maybe a semi detached if affordable near a university, with 4-5 bed-rooms and have one room for my self and rent the others out to university students.

But when you explain your return to people, do you still calculate it based on your initial investment even though you've made all the money back?  

He could pull it off with minimal initial cash, and be able to learn a lot along the way.