Professional install and removal required.

@Bob Stevens As I mentioned in my initial post - we wouldn’t take the entire SD balance, maybe half but this amount is truly unknown until we consult with a financial specialist. 

Hey Lance, it appears you are correct however partnerships would then have to withhold under partnership holding requirements on ECTI correct?

@Matthew Paul my first broker required all new agents to be in the office cold calling FSBO, expired listings, and preferred farm area for several hours x times a week.

But @Katie Smith has a great point because after the Miami apartments fell in on themselves, lenders are much tougher on condos and a lot more makes them unwarrantable which will negate an FHA and require a DSCR loan.

DSCR options would be best as local banks require higher FICOs most of the time but each bank has different UW guidelines.

I ALWAYS require MINIMUM 3X rents in gross household income, no exceptions other than pre-paid for FULL lease term (yes, I lease this way, not theory).

These are the affordable rentals D- In my opinion, D houses require rehab just to be livable.

Dee - As a newer investor, some of the options using "Agency Debt" (aka Fannie and Freddie financing) may not be available to you as they require 2+ years experience in multifamily space.

Required distros for tax consequence.At the same time I kinda snicker a bit since the buyer... the investor... thinks they found the next Apple or Tesla investment (and they are clearly the smartest in the room), and then go off the rails when it all goes south, I can't help but shake my head and have a small giggle.A fool and their money soon go separate ways, Yes, but don't you wonder how they got together in the first place?