When the market changes and investors have the upper-hand again, I like this method of finding contractors.

@Jack Moreno Hi Jack, I created a series LLC after I had a handful of properties, which was a bit of an administrative headache.

That first-hand experience is apparently critic on making these types of loans.

I eagerly take any money they want to give me, but then hand them notice that I'm putting the loan into foreclosure if not paid off within 30 days.

This causes my note to increase a few hundred dollars a month but will not have to put money down for closing and instead leave with cash in hand.

Besides setting aside $400/unit, how much cash will a bank want me to have on hand or available? 

No one has lease agreements between the two and no money has changed hands the past couple months.The way I see it, is their "lease" is not valid and I could essentially evict as soon as I close on duplex (21st). 

I feel so bad for those that hand over money to these people.

Hey the appraiser in there, hand them some before pictures, and always print out a few comps you’d like them to use!

On the other hand I dont wanna buy a full price either.