Hey Chris, rather than giving you points and fees for this potential catastrophe, I would recommend you see if he can borrow from an institutional niche lender, like Lima One, Visio Lending, or Peak Asset rather than risking your money on a high LTV like that.  

I'm 40 years old and have been in the restaurant business for my duration in Arizona, the past 20 years as the Operations Manager at the Four Peaks Brewing Company, Arizona's largest brewery. 

I'm a new agent and still not up to speed on everything real estate.

The commodities cycle peaks every 30 years : 1920, 1950, 1980, 2011.

If you run the calculations for various holding times you might see that there's a peak year to sell to maximize your return, after which your returns start to decline.

At the peak, the derivatives market represented $60 TRILLION dollars – a figure roughly equal to the gross domestic product of the world!

First, speed is often of the essence, and I don't need another party in the way of locking down a property.    

If you want to pair up with another newbie and discuss what we are learning, over the phone or at Starbucks, maybe that can help us get up to speed faster.

Earnest money peaks their interest more.

If however you are buying at a time in the market cycle where multifamily is frothy and almost peaking you are just buying for cash flow and not much cap rate compression for equity growth.In that situation it is a lot of risk for a small reward.