Now this is not logical to me because that would imply that he and his associate have never done a quick deal like a pre-foreclosure and any urgent deal.

Please take it easy on me, I'm a relative newby here...I have been considering spearheading a multifamily construction project in my area for some time and need to get rolling if I'm going to actually do it.  

At least the ball is rolling. 

I recall reading an article or blog post about an investor giving their child a wedding gift of pre-paying their first year's mortgage principal.  

The Starting Out forums can help you out , you'd read a lot of motivational stories how some members got started and got the ball rolling. 

How Do I Get Pre-Approved For Loans With Just Great/Good Knowledge, Some Home Improvement Skills, A Fix and Flip Team Ready To Deploy, Great Planning and Lucrative Profitable Deal Appraisal Skills? 

Ask the seller to give you the rent rolls and check effectively with is the amount of every single unit.Are you thinking to live in the property?

He borrows the pre-tax money in his plan at, say 4.25%.  

Yes, we could just use the trustee for providing the Trustee's Deed, but we learned over a decade ago that there is value in getting a paralegal to do pre-bid lien and title opinion and other verification of documents in the special proceedings file.

PM your email and criteria of a home (beds ; bath ; sq ft ; side of town ; etc.Have you pre qualified ?