Even if you have rehab costs rolled into your HML, you will initially be responsible for the rehab costs until you can show completion markers.

I am going into this venture with a business partner, he is the boots on the ground guy and is networked with all the right people, and I am providing the capital to get things rolling via a HELOC on my first mortgage. 

I'm only in Chapter 1 unit 10 but I'm going tp continue pushing forward. 

Rolling smoothly now with a 17+% Cap Rate.

I am going into this venture with a business partner, he is the boots on the ground guy and is networked with all the right people, and I am providing the capital to get things rolling via a HELOC on my first mortgage.

I know you said you took out the lease rolls into a month to month (Personally, I don't agree with that decision but your choice) and the lease expires on 10/31. 

I would like to have that in my back pocket in case I run into any issues when it comes time to roll over to a mortgage. 

Ask for rent roll.

I feel like I wouldn't be able to get renters in unless I pushed it out to like a 50 year loan lol.

- Community Laundry is located on the premise - 6 storage units also comes with the purchase Numbers (yearly)Rent Roll- 226,000Raised Expenses- Taxes- 28kInsurance- 12KUtilities- 23KWater- 10KTrash- 3KManagement- 15KRepairs/Maintenance (2020)- 15KEstimated Mort Payment- 66KBy my calculations, this deal cash flows very well.