Initial numbers look good.

It is my belief PMI on FHA is for 11 years on recent loans (not based on equity) that were initially 90% LTV or lower.

She initially put 10 K down payment, manager got half and we got half.

Sorry if this is painfully obvious to toehrs - I'm just starting out - but are loans generated by cash out refinancing typically at much lower rates than the initial conventional or commercial loans through which rental properties are typically purchased? 

This deal was on the MLS and we were able to negotiate a lower price initially due to the dangerous electrical conditions.

We have been struggling with what to do next on the housing front We've gotten close to buying a place a few times but backed off (including once where we had an accepted offer but got cold feet over a sizable appraisal gap).We'd initially been exploring either a condo ($1-1.2M plus HOA fees) or a single family home in a less desirable suburb for ($1.2-1.5).

This deal was on the MLS and we were able to negotiate a lower price initially due to the dangerous electrical conditions.

The reason we didn't initially is because our cash partner who will be helping provide the down payment wasn't familiar with hard money and therefore was hesitant.

Family getting stationed at fort campbell looking to establish initial property and take advantage of appreciation in the area.

We feel that our project achieves that.The architect initially advocated for 16 smaller units, but that would have precluded keeping parcels separate, which would have complicated the financing plan.I'm about $30k in for the soft costs so far.