Hi Everyone,I am a 21 year old student born and raised in St.

Depending on the rental rates, you would want to calculate ROE (return on equity) and you could potentially see what rents you are getting and refinance some equity out to use on other deals which would increase your ROE, technically lower your ROI on this property but would raise your overall ROI if used on another cash flowing property. 

If we can raise enough to pay cash & rehab, how is that drawn up legally?

If that is the case, you need to gather that WAY before learning how to raise money.

Please don't get me wrong, I completely applaud getting the knowledge, however without applying that knowledge, the lesson is never really ingrained, the muscle is never truly developed.

(Note to self:  time to raise rents!)

I am also guessing that since the original lender is a defendant in this, that the first load was not paid off...Not sure if this helps clarify any input, or just raises more red flags.Any comment / insight is welcome!

As a first time investor, these favorable terms raised a red flag. 

As a first time investor, these favorable terms raised a red flag. 

As a first time investor, these favorable terms raised a red flag.