A portfolio loan is a loan type that the bank has direct control over...because it is essentially the bank's direct money...and not Fannie/Freddie money.  

Essentially leaving you instantly homeless without your belongings until your hearing. 

I essentially have the same business model, we own and manage multi's and also flip properties.  

I think this would essentially be an FSBO.Is there a reason this would be a bad idea? 

http://www.latimes.com/politics/la-pol-sac-california-high-housing-prices-20160414-story.htmlThe California Association of Realtors has predicted a mass exodus out of the Bay Area this year, either to more affordable surrounding counties (Sacramento and the Central Valley) or out of California all together:http://la.curbed.com/2016/3/4/11161626/california-housing-costs-migrationBoomers who are sitting on a ton of equity realize they can move out of the Bay Area to retire to live like a king somewhere in the Midwest and purchase their house cash, and Millennials are entering their prime "settle down" years and think $650k for a 1950's tract home is a joke and they can't afford it even if they wanted it.But, they can move to Sacramento and buy a $350k remodeled home in a nice area with great school districts and raise their newborn children.

Essentially using leverage to build wealth.And, the risk of something happening to one property is high (heating system, roof, vacancy, etc.)

Cold calling your list has been proven to be effective in increasing the response rate in direct mail advertising.About Cold CallingAlthough only about 5-10 % of all sellers answer the phone.Cold calling is an essential part of the selling process.

You were essentially the top bidder.

@Eddie PinaIf you're buying triplex as a "buy & hold"investment, then it is absolutely essential to to have an inspector to check it out.

@Phil Gaulrapp, your tax rate is not based on property type, rather, it's based on the location of your property within its' taxing district (For cook county, see: http://cookcountyclerk.com/tsd/DocumentLibrary/2015%20Tax%20Rate%20Report.pdf).