Or i can put vinyl on it for around 9-10k.I plan to hold it as a rental for a long time (10+ years) but am fully aware that circumstances could change and I may end up selling sooner.

A real estate sale contract is a bilateral agreement, it can be assigned under certain circumstances, such as having a valid contract where the buyer has the intent and ability to perform.

How do you come up with an ARV, under these circumstances.

Putting the note amount higher than LTV of the property value, suggesting that the loan can't be refinanced early, it puts the lender at risk with the SAFE Act and the CFPB, they can get involved due to unforeseen occurrences (even if unwanted by both parties).

Plenty of cash, mediocre credit due to circumstances beyond my control.

"Equity" is thus a function of your point of view and the circumstances surrounding the discussion.

I suggest you go to a mortgage originator/lender and spend a few minutes to be pre-qualified and explain your circumstances.

If the circumstances warrant it, I'd use a bridge for the first 12-18 months followed by CMBS or agency financing for the permanent component.I think your model is great as long as you have the investors for it, sellers that go along with the entity acquisition model, and the lenders to do the 223F.

There are a lot of people out there who do not have the time to invest, but given the right circumstances would be willing to lend money for a return.

I also always want to see strong positive cash flow so if I (or my family should something happen to me) can simply sit on the property if it won't sell and let it carry itself without worry of unforeseen expenses or changes in occupancy, etc.Be careful, sleep on the deal a few nights, and don't talk yourself into a bad deal.