I borrowed something from my Star Trek watching days.Jimi Hendrix - “Knowledge speaks, but wisdom listens.”http://www.famousquotes.com/search.php?

The money is cheaper, quicker and you borrow on your own terms.

So, they turned to their borrowers — homeowners who had taken out mortgages — and demanded instant repayment.

If anything goes wrong, YOU'RE A VICTIM.Live in a hurricane prone area without insurance and a hurricane destroys your house - YOU'RE A VICTIM.Too lazy to work and have no place to live - YOU'RE A VICTIM.A homeowner borrows 125% of their home value in the biggest real estate bubble in history with a gimmick loan and then can't repay the loan when the rate resets - ANOTHER VICTIM!

The borrowers are in the process of proofing up tonight and tapes are being released in the morning.

See "B3-4.3-15, Borrowed Funds Secured by an Asset" of the Selling Guide for how to use borrowed funds.

You didn't say how you would finance this but if you borrowed $32000 (20% down) at 5% amortized over 30 years, your payment would be $213.45 leaving you $436.55/month; still positive even with one unit.

It is not customary for a borrower to get credit from a lender, especially thousands of dollars in credit since the money received in credit would be better spent reducing the interest rate.

Most borrowers, IMO, have the wrong attitude going into a bank, hat-in-hand as if they are begging for a loan.

@Steve Alexander, once you've exhausted your borrowing capacity, have you considered taking on a partner to pursue additional properties?