For the cash out, the terms would be at 80% of value on a 5/1 ARM, amortized for 30 years. 

I can leave this in - if I must - but stipulate that any explicit violation of laws by the PM is not my responsibility.I’ve heard an excuse like, “If we get sued, you get sued.”

Armed with some knowledge you can come up with a gameplan and execute.I personally would not take out a loan for the cc and a down payment.

With a 7/1 ARM, you could probably get something in the high 3% range.

On the next armed with even more knowledge.

What is your strategy to get out of the ARM loan when it comes due?

These were his terms 30% down, 10 year 6.5% interest only loan amortized over 30 years with an ARM after the 10 years.

As of now the terms we are getting are: 80% LTV (APPRAISED value not purchase), 20 year am, 5 year arm (stays fixed for 5 years then adjust to prime plus 2)There's Pros/Cons to Portfolio MoneyPros:-LTV on Appraisal (no money left in the deal if you keep in within the 75-80 LTV)-No seasoning-Relationship based so they are generally easier to work with.

@Tim Chiu reach out to @Tiana Wright she handle the property management arm of my business? 

If they did find a seller who was willing to let their property go for 70% of it's value they absolutely wouldn't need you as they would have a line as long as my arm of buyers who would want to purchase it.So with all that said the best course of action would be to get yourself a Real Estate license.