That is a huge rent payment for someone to live in Brighton, and that demographic does exist, but I would you would have a larger vacancy rate than a Class B asset, and what happens if that tenant loses their six figure job(s)? 

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

I've been told by my attorney (i'm a private money lending business owner) that we do not accept payments post maturity unless we do a new written extension or loan modification with agreeable terms.

Look for hard Money for %80 of each property, then do a cash out refinance and pay the hard Money Lenders.

As a property manager, I would wait until 7/1 to start the eviction process so you can check to see if they have vacated prior to spending the time and money to file an eviction.

- $500,000 Purchase Price- $0 Down Payment- 4% Interest- 30 Year Amoritzation- 10 Year Balloon- Monthly payment: $2,387Since this deal was so good, with no money down, my acquisitions manager is getting 20% equity in this property.

Review your money, talk to local agents, and learn from investors and managers.

Private money for acquisition and construction, then a commercial loan for the permanent.

Although, I realize that tax implications will be severe on using pre tax money and will reflect as income.Thanks.

It's in good shape and won't be worth the money.