If they did not take that as collateral; it would be an unsecured loan and I imagine your rate will be double digits.

Let me know if you ever want to have a conversation or grab a coffee to talk about the market here

You can still rent a two bedroom single family house in a decent neighborhood of Memphis in $650 to $700 range.As your first property, this is a tough market to be an OOS investor..

I believe that most people, unless they are talented at being an elite investor, should just be an LP role in a syndication due to the scalability and being able to spread their capital across different leads, business plans, asset classes, and geographical locations.

Another cool thing you can do is open up a whole life insurance policy (structured a specific way) on your children and it can be an asset for them with cash available for any use whenever you decide.

Definitely get someone who can help guide you through the process and be an advisor. 

This could be an affordable housing killer for a town that really needs affordable housing.

In underwriting you will likely have to write a small letter to the underwriter explaining the reason for moving so soon.However, if this is going to be an investment property that you do not intend to live in, you'll have to put down anywhere from 15-25% depending on how many units. 

I do think there will be an uptick in demand as things open up more and companies start pulling people back into the office. 

I don't want to be an ******* but I have been set back a few thousands by this ordeal.My questions areHas anyone dealt with this type of thing?