Besides, it will be easier to find a replacement tenant in July than it will be in November.Let him terminate without penalty as long as he agrees to let you schedule showings to potential renters and helps find a replacement.

You will get a better rate and terms, experience, and a faster closing going wholesale than you would going with a retail lender. 

Commercial agents build a long list of HOPEFULLY loyal investors that follow them and know when Jay the commercial broker sends them a deal its been somewhat vetted and not a waste of their time. 

I'm okay with the risk as long as I understand it.

I passed because the terms just didn't cut it.

Any help is greatly appreciated, and I am also not looking to outsource to anyone, so thanks for wanting to inquire, but please provide some help alone if you have any**Also side note there is not even comps for long term rentals in the area either, I am a realtor and have never seen something like this, I even went years back to see. 

Well, we don’t own a G-5 like @Jay Hinrichs 🤣, and our process is much more local, but not much different in terms of borrower and property qualification.We only lend in Los Angeles and North Orange County.

Evicting the tenants and moving in to perform repairs myself while I explore Detroit, as I have never been there before, but this process might take a long time.I would appreciate any advice or insights on how to proceed.

How long will it take for the new payment savings to break even with your closing costs?

Should I do long term rental or short term rental?