Specifically, they take out a HELOC on their buy-and-hold (and/or primary residence) ... when they find a deal they pull money from the HELOC ... when they finish they pay off the HELOC ... after a few of those, they take the excess profits and buy another rental.

Also 10 comps sounds excessive - 3 good comps seems more reasonable

I was also in contract for a student property through a commercial broker that is poorly managed causing excessive vacancy and because of this I was unable to secure funding for this deal.  

An excess of deals is a problem I wish I had.

Hi all, Another question brought on by my excess of equity.

If I were you, I would definitely negotiate with your landlord to get the price down and get a creative financial agreement together, hopefully one where the other apartment covers all or most expenses, save the excess you would have spent on rent and use it to invest in another property down the road or as down payment to get conventional funding to pay back your landlord.

I put a excessive use clause for water in my lease since we pay it. 

I can understand how we could be confused since his language wasn't consistent.To the OP, if you can indeed save up $2M in excess earnings over 5 years, that's kicking butt!

Judges have been known to give back entire security deposits plus damages which is typically triple the amount of the deposit when the landlord doesn't account for it in a timely fashion - even if they were due the entire amount because of excessive damage.

So I says to the guy.. don't you think 90k is a little excessive for a wholesale double escrow fee.. just got a bunch of double talk..