The terms of the financing (interest rate, balloon payment timing) need to make sense for your exit strategy.I would recommend getting a detailed inspection to ensure there aren't any major issues you're overlooking.

(This allows us time to raise rents plus appreciation over 5 years to then do a portfolio refinance to pay back the line of credit). 

She had a valid lease and was on time.

So the question is going to be where you think rates will be in 5 years and if it will warrant a refinance at the time. 

The good news is that just like STRs used to be less professionally run back in the day, so are many MTRs.

I’ve personally met some lenders and financial professionals with interesting products at local networking events, and it’s a great reminder of how important it is to connect with people in the community.

Analyze deals using key metrics and build relationships with professionals.

She does investor bus tours in Detroit all the time and has a lot of relationships there even though she lives in Cali.

**Due-on-Sale Clause**: The existing lender could call the loan due when the property transfers ownership, though this isn’t common if payments are made on time.2.

Once you figure in the time you spend at the coutrhouse, it just might be cheaper in the long run.Sharon