Investment Info:

Large multi-family (5+ units) hard money loan investment.

Purchase price: $100,000,000

Cash invested: $500,000

Real estate investment

What made you interested in investing ...

." - Your interest rate on financing will be determined by your credit and income, and will usually be more or less "assigned" to you  by your lender.

The seller what’s to sell to save his credit, but doesn’t want to involve the wife ( I don’t blame him) but according to the county she is the sole owner of the house.

My first one i was in a basement type setting i thought i was going to be in a fancy hotel before i got there the guy i was in contact with misguided me the directions so i was already off to a bad start, then i told him what i wanted to get into and i said wholesaling and flipping but this event all they spoke about was a lot of the legal stuff and how to get loans and use other peoples money no money no credit never explained much else, so i didn't really find anything out of that.

My credit score is low about a 600 but I know I will be able to bring that score up now because of this new cash.

If you have good credit and tax returns that can justify the loans now, they may be able to offset this lack of experience, buying you time to use the properties as income for future loans.

Does an occasional mopping really do damage?  

He is versed in tax credits and project management- possibly property management. 

Something to keep in mind with STR, that's tied to why REI is a smart game to play - control is the name of the game.You want to control the guests and rates (vet them in hopes of avoiding property damage, set rates to attract those willing to pay more for quality)You want to control the costs (furnishings, consumables, cleaning/repair/plumbing/electrical)You want to control the property (choice of property, location, financing terms, well or city water, septic or city sewer, etc)This is all going to be very hard to do, if not impossible, if you don't OWN THE PROPERTY. 

Will that full 20k balance be due the following month like a credit card?