I also like the ability to be able to sale one property but keep another without redoing loans on all of my holdings and being obligated to use all the profit to pay down one large loan.

If they do we see how they might effect our ability to run our business.

One day I was over there doing some repairs when I realized there was a electric heating element that really didnt work in one of the bedrooms.

The ratio of owner-occupied units verses rental units will affect your buyer's ability to get financing to buy those units.If you are going to convert, the exit strategy would be to convert and sell them ALL as owner occupied units.

Now, if this is your 51st deal and you have a track record, have the ability to qualify for that end loan and have a trusting party to lend to you, that might happen. :)

Most areas have hard water and the scale will build up in the hot heater as the water evaporates from the system thus causing corrosion to the hot heater elements.

They look to you, your ability, your experience and your credit to make sure they are not making a risky loan.You will need to establish a relationship and build up trust with a private lender before they are likely to take the plunge.You can try some hard money lenders, they charge higher rates but can be more focused on the deal.

It also depends on your risk tolerance and ability to contribute financially (but the latter is where being serious about your networking can really, REALLY help you)..

Look for the borrower's ability, you will be losing some that's part of it as there is no guarantee in no equity NP seconds, do enough and the winners will hopefully cover the losers.

If I had the ability and this deal was as good as your showing then I would look outside a "partner" investor and try to find some hard money...your giving up a lot of profit for the use of someone's cash.