Thank you for this information @Angie Castro.

I believe there was a PA court decision several years ago that now prohibits the "first, last and security deposit" approach.

From cap rates and cash-on-cash returns to net operating income (NOI) and internal rate of return (IRR), how do these numbers help you understand their impact on investment decisions?

People who have done this have to patch it by having an attorney draft something up where the LLC informally assumes the mortgage payment responsibility from the people.Since you maybe stuck since it seems like your transaction is going through, you will need to also consider your Title Insurance Policy and Homeowner's/Landlord Policy as well. 

Sometimes, there is not enough information provided by the student to answer the question unless they are on the live call.

So essentially my decision is between a large bank with a lower max interest rate, or a smaller bank with a higher max interest rate.

@Dominic Richardson You probably need more information about the park in terms of any deferred maintenance and current upkeep yearly amount. 

Just wondering if anyone has done business with him and if so could give me some information. 

We could get some pretty good ball park numbers on what the refi would look like to help you make that decision.

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