Getting at the $130-150K and doing a 1031 exchange is also not likely as it has to be rolled into the new property.

Make sure you roll the glue seams when you are done.  

@Chris Reeves  Not at all my area of expertise.. however I have been around a few syndicators over the years.. and the general partner usually has some pretty good discretion in the event the sunset and subsequent sale is not optimal.And I imagine the sponsor could just go back to the investors for a vote to see what they want to do.I have seen though fixed debt get called in the last GFC... with owners that were on 5 year call notes ... having their notes called because the bank was not in a position to roll it over..

We ended up using the $20K contractor because he was recommended by another investor/friend who had used him multiple times.Here are the before photos (many from the listing last November, so pre-holes):As we were working on it, a guy who was interested stopped by and talked with my dad about the house.

Regarding the rate on the loan, my wife has employee pricing since she works at the bank, I will most likely use a pre discount rate in my calculations though, just to make sure the deal is attractive on all aspects. 

.-3% down would be around $4,500 down payment-$14,000 savings for 12 months mtg pymt expense used as needed to get the ball rolling-The properties I look at probably need $2000-$4000 in renovation expense-Estimated insurance would be around $120/mo and taxes around $250/mo which is included in the monthly total I came up with: $1166 roughly.

They probably roll onto others too.

You get to set the interest rate (it can be 0%) and you get your investment amount back sooner.Some things to think of:To file a deed at the county courthouse is $100-$150 in cost (depending on which county)And you want that note to be pretty close to 70% of the ARV for the property if you don't want to bring any money to closing. 70% will allow you to roll in your closing costs.

You should also get a copy of the leases (not just the rent roll) as well.

I'm sure you'll get the ball rolling soon.