Most lenders will not approve under $90K to $100K because it violates high costs rule.

While some lenders may consider breaking even as "performing," I personally wouldn't classify such an asset as performing.

Here’s my reasoning before even spending any time reviewing the syndicators track record or credentials.

Depending on your relationship with your parents and everyone’s expectations it might be better to have them be simply a lender on your first deal.

I have plenty of clients who 'make' enough and would have no trouble qualifying, but there is a benefit to keeping liability off of yourself and funneling your debt, et al. through the asset itself.Plus, if you keep it at 1-4 units, most DSCR lenders would still qualify that as "single-family" so you would still be eligible for 80% leverage on purchases and 75% (or sometimes 80%) on refinances. 

DM me and I will send you contacts for; attorneys, lenders, and accountants they have previously used.

Talk with a local portfolio lender who knows your market.

Your Lender My suggestion to find #2 & #4 would be to go to the top of this page and click on FIND AN AGENT & FIND A LENDER.

If a buyer is offered a 2-1 buydown (starting at 5.25%, increasing to 6.25% and then to 7.25%) with all closing costs covered except for $3,000 (to be paid by the buyer) on new construction through the seller's preferred lender, and signs the purchase contract in April 2024, the house will be completed by the end of September 2024.

Where do I locate hard money lenders in the state of Arkansas or near by and would experience be a huge problem when it comes to creating the partnership?