Depending on DSCR and LTV, you can get a fixed rate portfolio loan starting around 5%, amortized over 25 or 30 yrs, with a 10 or 15 yr term.Heather

We signed the lease then and there. and she is still our tenant 3 yrs later.

All, I am running into a bank offer that I would like to get you all’s opinion - In the past 3 years, we purchased 8 rental SFHs in our personal name with 30 yrs fixed, average 5% interest.

To break even, it will take 20 yrs to recoup my investment.

A detailed rent roll with lease terms (dates - start/end) including vacant units and floorplan style (1bd/1ba, 2bd/1ba, etc)Tenant responsible expenses (direct or bill back) vs landlord paid (utilities, trash, etc) 3 yrs operating statements, plus YTD for all income and expenses broken out Monthly breakdown of the income statement for the last 12 months if possible. 

Took 40 yrs to get last deal.

I am really writing this so others who read it can see that your way requires you to have a lot more properties and doesn't necessarily  provide more total cash flow in the first 5 yrs.

I had negotiated Owner Finance. 85k, 5k down with 80k at 4.25% amortized over 30 yrs with a 10 year balloon.

He thinks this will not be an issue because he set up a HELOC with his long-term girlfriend of 15 yrs. on their primary residence after adding her to the title, and it was a very smooth process.

The owner of the property ran a antique shop there for the last 15 yrs and is looking to retire.