As Jon mentioned, we are one of the many lenders who rolls all of the points and interest payments in to the loan.

@Jeremy Hauben Finder's fee vs. equity - I guess it depends on whether it's worth rolling the dice & how bad you need the cash.

I just keep rolling it forward.  

Rent Rolls $2,200  per mo. x 25 = $55k Investor 8% per mo. = 27kTaxes/Insur $9,800 per prop x 25 = $245k or $20k per monthNet profits for us = $8k per monthThe net profit for us is not much with these parameters, until I get to at least 100 SFR's.

Have you had a CPA look at the rent rolls?

My strategy initially is to use cash to buy (instead of short term loans), and then after fixing up and getting rented, would refi and take out cash, and roll into more deals.

But I appreciate that is was ready to roll when we started.

You're buying a rent roll. 

The $7500 in deferred interest is common if it was rolled into the loan.

If you're talking about apartments and not duplex/triplex/quadplex then you'll want to start with a T12 (trailing 12 months P&L statement) and the rent roll.