I wonder if there's a way to structure things so that there are monetary incentives for the PM when they keep a tenant in place long term (reducing turnover), and perform enough preventative maintenance to avoid high cost repairs that could have been prevented.

The  reality is you may REQUEST an extension, but it doesn't have to be honored, and of course both parties waste time and effort. 

I have a client that is in bankruptcy protection (ch. 11) because a lender failed to perform on a $33MM loan.Project is mixed use right on Ala Wai harbor in Honolulu.We have secured a $4MM Equity loan but because client is in such a precarious situation lender is charging high points and only giving him 2 months balloon maturity.

However, a quick call to your local lenders (and I do mean lenders, call up half a dozen or so for an overview of your region) should be able to answer that question.I will say, for the path that I outlined above and with your goal of quickly scaling up to large multifamily properties, the limit on the number of loans you can hold should not come into play as your purpose for buying them is not to build an extensive portfolio, but to gain hands-on experience.

Hi Fellow BPers,This is a success story about helping homeowners and profiting from a non-performing note backed by a 1st mortgage in Washington, DC.

I told her of course they would say no because it triggers the due on sale clause – but they don’t have to call the mortgage and my plan was to of course tell them I was taking ownership of the property and have full plans in place to continue to make it a performing asset and then would re-finance later to get them fully paid.

The property did perform well with only 10% down because we bought it at an excellent valuation.  

If this is a one time use or if you want to save some money you can use a couple of garden hoses connected together and make yourself some 2ft clear hose extensions to put on each end.

Hi @Christine Mwai  Perform a quick search for portfolio lenders.  

Notes - performing and non-performing!