Do I move forward with them filling out the application before I've even closed on the property, along with paying for the credit/criminal/background check and sending them the Estoppel Certificate?

The rehab budget was low and and had a quick turn around time.

Credit Unions?

If you're an experienced developer, let's connect. if you would consider other markets im in between columbus OH and Miami FL doing a 11 story deal right now in Columbus land cost is very low miami is the opposite

These specific loans allow me to assume/get her off the deed and the loan without a refinance (it's an amazing loan through Mountain America Credit Union) The CG is calculated into the appraised value. 

I don't know your market, but the vacancy estimate of $450 seems waaay low.

We advise landlords to require two main criteria:1) Household income should be at least 40x the monthly rent.2) Applicants must have a credit score of 680 or higher.It's also important to review credit reports for red flags like rental collections or high credit card balances.

The cost of entry is low, and cash flow is high.Happy to connect to share more! 

it's crazy to tie up a million cash to build a duplex. you can leverage that and build so much more units. ohio is one of the cheapest markets in the country to build and I'd pass on this deal if it's a million which I'm assuming it is of cash, with that amount of money you could be the majority partner in a 50+ unit deal with non recourse debt on a HUD 221d4 loan and have more than 50% equity. super low risk, urban core, non suburban deal in Columbus Ohio.

It took the company about 15 yrs of being around and building their portfolio before the two principals of the company were able to remove themselves from all personal guarantees and get to purely non-recourse debt with bad boy carveouts.When looking at MF loans, you can often find non-recourse debt on acquisition financing as low as about $1mm loan balance, even with no real experience (granted, you will need an experienced management company lined up and personal financial statements showing a net worth equal to loan balance, but you are not putting your personal financials at risk like many commercial loans).