Commit and love the style you're with.

You have a respectable chunk of money that can help you get where you want but ensure you are educated on and committed to what you are doing before spending that money, especially if you get into a rehab.

We are committed to this goal long-term and seek to provide the best property management in YOUR LOCATION HERE.

But as soon as I tell them they need to commit to several units, pay first/last deposits, and they do the math on ~$5k/unit to furnish, most that shouldn't do it don't do it. 

Buyer brokers want an exclusive commitment.

The plan works but it takes patience, discipline and a commitment not to use debt.

A question for those who are connected with a mortgage (working as a broker or with a broker) or have received a mortgage:How legitimate is the broker's claim (clauses from the mortgage loan commitment):1" This approval is based upon your current liabilities.

We've had a decent amount of interest and showings, a few applicants, but no solid followthrough or commitment yet.How long should one expect to show/list a property before getting solid commitments and followthrough?

If they are you could do:1) All Cash2) Seller finance for part, and cash for the balance3) Or you could do 100% seller finance of the purchase price (as one or two notes, with different amortization term (80% ltv as Fix30 and 20% ltv as Fix15), no cash, but higher purchase price4) Seller finance for part, and seller getting a 2nd mortgage on the SFH/Multifamily for what would have bee the cash part5) Partner with another business, that could rent part of the building and/or lot and use the rental income to get bank financing, since you'll have a rental commitment to help with income.6) Trade the building for part of your profits from the biz over a number of years to equal the purchase price, then you own the building free and clear.7) 1031 exchange the multifamily for the repair shop.8) etc.

And by owning homes and charging people money to live there, you are providing this basic need for a price and a commitment to fulfill certain obligations - on both of your parts.