They said they would need to borrow a van/truck from someone.

Should I borrow enough to pay Realtor's commission and closing costs?

At that price point, what is stopping the renter from buying their own property?

We want full control over the entire process - plus if they tenant doesn't pay, we will - you do NOT want to let the borrower's credit get dinged.

SO nothing out of the pocket of the tenants, but the evil landlords that work hard to provide a solid home for these people get screwed.That is just CHICAGO proper and nothing is stopping you from investing here or as I do, in other areas around Chicagoland where the laws are more even and fair.

If they pay up, you can stop at anytime, but dont' delay any longer than you have to.

What would happen if after you buy a NPN, the borrower decides to file for bankruptcy?

In addition, the HML may have a different underwriting outlook on you using borrowed funds depending on what they look at in underwriting.

The downside is that it is hard to borrow within a SDIRA (or 401K) so it is also harder to get the advantage of leveraging things.Dan Dietz

The large banks aren’t making commercial loans unless the property and borrower are stellar.