The principal balance is what he’s paying for not having the 1 million up front + he has to come up with the 90% (because he out 10% down) so an additional monthly payment is required to eventually pay off park purchase. 

Happy to help with additional input or get on the phone if that helps.  

Features offered (some just offer lists/data, others offer additional tools)6.

Additionally, I would make sure you still have a mortgage contingency clause in the contract in case the funding falls through. 

For single family I would look in Bergen County zoned for good schools, something that needs work and you can force appreciation through reno or addition.

In the event of a slight downturn it would be safe to build additional vacancy losses or rent reductions into your pro-forma so that your property still cash flows well. 2.

From what I've learned when you cash-out your equity like this, you are going to pay an additional 1% over the normal rates.

I'm trying to get one of these Finance right now and it seems like the lenders are asking for an additional 10% down because it's multifamily is that your experience as well

Also, note that that is in addition to the $450-$550 per unit in repair and maintenance each year. 

Additionally, the property itself won't put stress on you as long as it is continually producing positive cash flow.