I've been studying books, listening to tapes and doing extensive surfing trying to learn and understand the best way to proceed.

I emphasize the "intangible" parts of the units - walking distance to charming downtown area, private porch in the back for those quiet evenings with a cup of tea and that special someone, etc.

With five children one in private school...I really need the extra money!

It happens all the time in my area of Panama City Florida.Many private property owners will do this but you may have difficulty with property management companies.

I'd be happy to get into more specifics on a private basis, but for various reasons, right now I'm a little squeamish about baring too muich of my soul on a public forum.

Those are always taken out of the loan first before funds applying to payoff.Remember, the lender will allow you to come up with funds for any shortage from another source..ie..private loan or seller 2nd.I do know of a couple sources for that area depending on your credit score.

Any questions, you can directly ask me through Private Message and i'd be gladly able to help you out in anyway!

Dana:There are private and national lenders who will lend up to 90% LTV for all types of cash flow properties.appartments, office complex units, mobile home parks, self storage units, and even mini mart / gas stations.These are 10 yr notes/ amortized over 20 - 25 yrs.

How about for a private promissory note holder like me, who only needs to check credit and report late payments to all 3 credit bureaus ?

A Condotel normally has more amenities, facilities and services not found in condominiums.Condotels are completely different from Residential Condominiums where unit owners can act as a landlord and rent their units privately or have someone rent their units for them.