The below terms are live as of this date, for a rate and term refi (no cash out).From left to right:Points: 1, 1.25, 2.Prepayment penalty: 10 years, 3 years, 5 years.Commentary/review, hopefully this thought process is useful when evaluating offered terms for a maturing commercial mortgage that needs to be refinanced. 

I live in California and planning to move in Illinois.

More Details. rental property 390k owedworth 490k located in MDpurchasing single family home in Macclenny Florida to live in. 

I live in Phx,az and recently friend of mine sold his bank (ex bank of america) literally as is and profiteed $300k  , he purchased it right out cash last year (I think) and it was in real bad shape in a shady part of town,  before him taking possession of the bank  homeless people where living inside it an using the bathroom anywhere in the building, he put maybe less than $5k in just cleaning it up and just a couple of days sold it.Basically the idea is to find super cheap homes in ****** conditions but the price is so cheap that you could still make profit by selling as is, investing as little as possible..

SCENARIO 2):A) Parents buy the home and we live in it.QA) Is there a way to make this work that we would ultimately buy the property in our name? 

Shorter term, it will bring in workers to construct and create this new development - Longer term, it will bring in the likes of famous celebrities from around the country (if not world) to live and stay here short to long term. 

@Victor Nguyen for starting out either is fine if the numbers work, but if you do a duplex I would recommend starting with the a side-by-side duplex the first time you do one rather than a multi-floor building.The reason being is that managing multis (duplexes) with tenants living over each other come with different problems such as noise complaints, and can limit your options accepting pets.

SCENARIO 2):1) Parents buy the home and we live in it.Q1) Is there a way to make this work?

Are you able to move or is SD the only spot you want to live? 

He's a regular guy who worked hard, lived below his means, and invested as much as he could in buying property.