I did a drive by on a property today where we are in the process of evicting a tenant for non-payment of rent and noticed that tenant has cardboared up some of the front windows of the house. 

I'm concerned when you say you only have enough for down payment - you may have but haven't mentioned....you have to have enough for closing costs and major repair issues too.

They charge a 3.9% fee and I just had to show the down payment in my business checking account.

We are about to lose all our stuff that we have in storage because we cant afford the past due balance and this months payment. 

So my question is, what is your threshold of late rent payments when it comes to lease expirations and subsequent roll over to month-to-months? 

They own the property because the borrower missed mortgage payments and they are trying to salvage loses. 

And since with FHA, you only have to put down 3.5%, after closing costs and down payment, my initial investment was around $5k I think.  

I reccommend STRONGLY Evergreen to anyone looking for a great note or creative financing payment servicing deal !

This translates to a down payment between $8,750-10,000.

Chase is by far and away the best if you can swing the down payment. 5+ units 500k minimum loan amount.