I am looking at a large tract of land (over 30 acres) and want to know what are the best options on financing out there.My objective in the financing is to keep the payment low so my debt-income to stays low to enable me (or not prevent me) to acquire more SFH/STRs utilizing my remaining FHA loans over the next 24 months.I am a person with outstanding credit and no consumer debt, so the local bank offered me 6% with 30% down on a 20 yr note. 

Facebook be damned!

Multi-Family Property Class C: Properties that provide functional housing; exhibit some level of deferred maintenance; command below-average rental rates; usually located in less desirable areas; generally managed by smaller, local property management companies; and tenants provide a lessstable income stream to property owners than Class A and B tenants.Negative Amortization: This occurs when interest accrued during a payment period is greater that the scheduled payment, and the excess amount is added to the outstanding loan balance.

I wanted my units to all look outstanding, but I didn't realize that the rental standard in South Bend is quite a bit lower (as are the rents for that matter). 

It would yield 8%-10% but at a minimum 8% based on my calculations.Id say my cash position is 37% of my total outstanding mortgages.

The sale went for more than the outstanding mortgage - the lender reduce the price to equal the defaulting balance.Try that - glad to chat with you anytime.Auctioneer

But I just don’t like that I can’t work on the house because it is under an LLC, even though I am the single-owner of the damn LLC.

DON'T tell the owner a damn thing.

Outstanding late charges/ nsf fees 2.

Damn!