However, there are some lenders that do use your credit as a basis for the loan.I say if you are upfront with the seller, put down some kind of collateral (money, EMD, Good Faith), have everything spelled out precisely and exacting in the contract, explain your intention (assign, or buy with the option to assign, or outright buy if not assigned or assignable), that is all you need to remain within the legal walls. 

This is because they can't take a foreign property as collateral.

Be careful, if you refi, or use for collateral, you may need to pay them off.5. 

I think a good note needs to be on a property that is good enough collateral that you can comfortably foreclose upon if needs be.  

The Bussiness plan called for the purchase of 1 to 2 fourplexes in the first year as the LLC is useless to grow the business, I'm worried about my liability in short term as I plan to use the two properties mentioned above as collateral.   

Also if you get conventional now, thenext one you could get hard money or private money and cross collateralize your other properties as well.As

For me, the primary factors when deciding whether or how much to bid on a performing note are: location (state laws, RE market), yield, collateral value, # of payments remaining, and pay history.

It's adaptable and typically has lower interest rates, but keep in mind that you're using your property as collateral, so there's some risk.

About $60,000.Should be able to get around 360 units of Drive up Access.This should cost you around $4mm to build out, including construction interest.At the end of 4 years around 80% occupancy want you to either keep and use to cross collateralize and do another location. 

Also, potentially putting some personal assets as collateral could lead to this possibility.2) LLCs cannot close under conventional loans.