We offered $41k or balance on mortgage, whichever was less and we offered to cover all closing costs.

I've gotten a loan on my primary residence before, never an investment, so I'm not sure if that's why I'm so blown away.Details below:75% LTV7.825% Interest4 points or 5k (whichever is GREATER)$1,495 in processing and underwriting feesI BELIEVE I'm still on the cuff for an appraisal and potential rental analysis. (650+)After refi, numbers below:Expenses: 759.03Cashflow: 240.97ROI: 15.8%The numbers obviously make sense, and show improvement with refi.

Make sure you take into account all interest payments and terms to run the numbers and then you can go with whichever option you are more comfortable with. 

One thing that has helped has been using Google Voice, which sends text versions of voicemails to my cell phone and email when I miss a call.

Myranda, whichever path of REI you choose I just want to wish you success in it.Have a Great Day & Happy Investing!!

Sale price or appraised value, which ever is less, is the value of an asset within that marketing time period, after a year it will be the appraised value. 

They will lend up to 75% of the ARV or 90% of the purchase price and rehab cost, whichever is less.

That is an extremely tiny deal.Most commercial mortgage guys have 10,000 minimums or 1% of loan balance whichever is greater.

Can i put "193k or payoff, whichever is lesser" in the purchase price slot because i dont believe him on the payoff amount? 

Please know this rule inside and out (it's a little complicated):  Delayed Financing allows you to get back your purchase price + closing costs (of when you purchased the property with cash)  OR 75% of the ARV.....WHICHEVER IS LOWER.