It does carry a PMI.You are connect that they are rolling the cost of the MI into the loan rate.

Every year that the developer has to carry an unfinished subdivision is profit that comes straight out of his pocket.

Well, not all homes have carried the same risks for lenders in the past.

Including purchase, rehab, carrying costs until breakeven etc?

Years ago one cat even carried notes between us and their other location.. never met the other "owners". 

For those of you who operate or work with syndicates, I am curious as to what is typical syndicate compensation for partners would be - what is typical for the acquisitions director to make as part of the finders fee and percentage of carried interest in equity - also, is this percentage of carried interest obtained without the acquisitions director being put on the note?

. - it does take time, maybe I got lucky with this one..I looked at several applicants and spoke with them to really see what's their life schedule consist of and see if they could actually carry out my task.

Also take off 1-1.5% on the front end for closing costs and another 1% for carrying costs. 

They carried almost nothing in liability.

He originally wanted $90,000 cash all paid at once, but he agreed to an $85,000 purchase price with 25% ($21,250) down with him carrying the financing at a 4% interest rate.