Local banks can usually release funds quicker and with less red tape.

You have not given enough information on the property like what's the tenancy rate, what's the utilities cost, did you have the property inspected to ensure no major repairs linger around the corner, do you have money for attorney or property manager if not can you deal with taking applications and running peoples background checks and credit reports, phone calls from the tennants.

Sorry couldn't help.Do you mind sharing if it was a mortgage company that funded your loan, or a private party.Did you state your line of busniess, income, and assets on the application?

I've NEVER been to any of the pay seminars, or bought any of the programs, although I've read lots of the books (library) and heard some tapes (let me borrow it for a couple of days to see if I want buy it).Back in the day when I was still working (I was a sales rep) I would go sometimes to the Zig Ziglar and others "motivational/sales/postivie thinking" day long events.

There is a $50.00 application fee due at the time of the consultation and you would pay NOTHING else until services are fully complete, and since we are now non-profit, the client only makes a donation that they can afford.

So, I can frame and do some installs, but I probably can't tape.

Document timelines when you start advertising, clean up costs, ad costs, where you advertised (save copies), rental applications, miles driven to show the unit, phone calls, letters EVERYTHING.

Each property is different and you have to break down every expense applicable to the specific property, line by line.

Thanks to everyone here for all their posts.Also, I've been using the search feature to look at particular topics when I don't want to read a million posts that are educational, but not applicable to where I am.

It got so bad, that the only applicants I saw for two or three months were drug addicts and other scumbags.