Excessive?

The power of leverage is amazing as long as it isnt done in excess. 

OPPORTUNITY, there is currently a flood of foreign money being pumped into the country creating excessive appreciation. 

@Steve A SpannIf there are any excess proceeds, they should go to the original owner.

So lets say in ~5 years the goal is to pay off the investors via excess cash flow above the preferred rate and a refinance.

If you have a great deal pertaining to ROI and not to much of an excessive fee then your investors should have no problem giving proof of purchase and EMD within 24 hours.

As far as your moving expense of $800 to move belongings five doors down the hallway, that seems excessive.

In a downturn, if you are doing LTR, look at the average rents in the market and make sure your property isn't worth an amount that would demand rents significantly in excess of that. 

If this is just a market value deal, then paying the excess points to finance the deal twice plus the hard money interest rate that is likely 2-3x (or more) a bank rate could sour the reason you'd want to buy it in the first place.All that said, I don't know the specifics here so just giving my general thoughts.

Some jurisdictions require you to change the locks after each tenant and not doing so could land you in hot water in a court room.In Illinois the Illinois Landlord and Tenant Act added a new section 765 ILCS 705/15, "effective January 1, 2012, requiring landlords in counties with a population in excess of 3 million people (ie.