NACA was formed in 1988 and provides an affordable option for potential first-time buyers:✅ No down payment✅ No closing costs or fees✅ No mortgage insurance✅ No consideration of credit score✅ Below market fixed interest rateThere are several requirements to be eligible, starting with attending one of their workshops.https://www.naca.com

Under lease agreement, tenant has 3 day grace period before late payment.

But 30 day grace for rent payment's, that's just baffling. 

Also hold back a good % maybe 20%-25% for the final payment.   

I got in when interest rates were great but i took variable and unfortunately the rates have gone up and my monthly payments have gone up almost 1400$ from 2 years ago. the plan was to refinance which is why i took variable but i never did as i was not sure what to do. right now the 3 units bring in a total of $3900 but the mortgage payments, insurance and taxes alone add up to about 4.1k.one of the units is a 1 bedroom where the man who has been living there for 28 years is only paying 580$.my main question is what do i do?

Home price is $369,000 Rehab given is $80,000 Down payment is $44,900 Loan amount that I will owe back is $404,100 Loan is for 6 months Holding cost for full 6 months is ($3500*6) = 21,000Closing cost = 19,553ARV = 575000 (my agent said $600,000 but I am doing 575,000 to be conservation, with the way the market is going I do question if I should estimate it lower)With my math, using the full rehab loan and full 6 months with selling costs included, I estimate around a $53,000 profit. 

I want to create an online account to handle payments from now on.

Well, that's also a possibility but I think my lender will only do 75% LTV which puts my new payment at around $1170 PITI with a $142,000 principle balance. 

Taking out a mortgage allows you to diversify your holdings by using your available cash for several down payments on several homes.Examine the Buy, Rehab, Rent, Refinance, Repeat (BRRRR) method.

The plan is to take out a HML on one of them to cover costs associated with Acquisition and Construction, and DSCR Cash outs after the other two are complete.Exit - Plan to Hold all 3 soon to be Aquired/Built properties for rent / future appreciation, +Cash Flow, and +Net DSCR Cash outs.Acquisition - Contract for Deed $130,000 @ 0% Interest 9 monthsHML Payoff $73,000 + Legal Fees on Execution of ContractBalloon Payment of $57,000 at time of DSCR Refi after construction of home on lot one, and the finish of construction on lot two is complete.Mechanic’s Lien, $43,000 for foundation and other work done, paid by seller at closing when contract is fulfilled.Rehab/ConstructionLot 1 - Home to be Constructed TBD.