She is seeking to pull out at least $50K or up to $70K.

I am currently seeking $2.8M to close on a $6.6M deal.

For those of you flipping or refinancing apartment complexes with commercial loans, what have you done regarding loan prepayment penalties?  

I would always encourage you to seek out your friendly neighborhood attorney for real legal advice :)

Owner says that it will fetch $900 a month.Asking price is $120,000The owner bought the property for $6,000 in 2001 and he has done significant work on it, but am sure the asking price is negotiable.This will be my first investment property if I decide to go ahead with it.Since this is my first deal, I am out here seeking your input and advise....Is this a good deal? 

No problems with your plans aside from you not seeking passive income.

In Maryland, for the most part, it has been made an illegal practice with severe civil penalties.    

For more information, seek out a local attorney.

Your PM is not seeking the lowest bid, they are seeking the bid with the guy they like to work with and isn't looking after your bottom line.

Other types may offer SE tax advantages.At the 10 loan limit, most seek portfolio lenders, partners or seller financing in an entity or not.