I own a condo that I have had for 30 yrs in Miami and have it rented out now.

Even using month-to-month leases, I've had tenants 6-8 yrs residence.There's a lot of assumptions here on BP, but the facts (at least re my MFU facts) relate a different reality - - MFUs  with good NOI sell better that fresh baked bread.

You lose any potential benefits of the Loan Forgiveness Program (which I looked into and didn't qualify for, but it involved 10 yrs of employment by a non-profit and the government would grandfather - those already enrolled in the program - in after changing the rules).  

Hi @Troy Smith, Im a local investor in the area and have been doing Wholesale, rehabs and new construction for the past 8 yrs.

Yes I know some local banks can go up to 25 yrs. the one I worked with only do 20 yrs for this amount of loan (they may do 25 if loan is bigger, may be $2MM+).Do they typically do floating or fixed?

As i said most banks will go with fannie and freddie guidelines. fnma wont buy loans that are out off those guidelines therefore a bank most likely not to do the loan because they wont have any buyers on the secondary market(fnma) .Fnma buys the loans so they can free money for the smaller banks to do business and lend more to people.Fha mip is 1.75% for 5 yrs.

I'm interested in Multifamily properties and want to buy and hold for about 5-7 yrs, possibly longer depending on the market conditions(which is something i'm trying to learn how to analyze accurately).

Army after 6 yrs in the infantry 2 deployments in 2 different wars, married and divorced and I've had a few tragedies along the way.

We have a large buyers list from our original wholesaling the past 3 yrs and we can move these deals quickly and everyone gets paid.Imagine as a realtor bringing pocket listings each mo and we helping you close 1 or more extra deals a mo that you wouldnt have done before.

I'm 48 yrs old and the only property I've ever bought is the one I'm writing this from.