I’m currently renovating my house and turning it into my first rental.

You do not want to try and hand hold a first time buyer and keep things moving and coordinated with inspections, lending, title, etc.

This could include charging a larger deposit or last month's rent or the first three months up front or whatever.

Smoking is not a protected class.   

I purchased a duplex with 2 sets of tenants just like yours last July. after going thru the process with the first ones and paying a flat rate, I was able to negotiate A split rate for first the filing and then the court appearance.

In the process of buying my first 4 unit!  

While it saddens me to hear this, ultimately this was not someone who should have been investing passively in syndications in the first place.

Accept a $1,300,000 first lien note, payable at 10% interest only payments for 24 months, and convertible into a 15 year 11% note with 3 year interest adjustments with11% floor fully amortized.

Then I had visions of planes and Teslas and got my answer😎 

The deal I chose was somewhat at random, but also looking at price points and neighborhood ratings I thought would be good for a first investment.Below is my attempt to break down this deal.