They are incorrect and if you follow their advice, be sure to hit them up for the fee when the lender charges you.

NACA could call the loan if they think you didn't make a necessary choice, they do not consider paying off credit cards as okay.Your HELOC lender can also close the line if your FICO goes down or they find out they are in 3rd position.NACA is an amazing product no down, no PMI, low rate, no fees - you sure don't want them to call the loan.

However, we also want to make sure we start off strong with a seasoned PM and then possibly take over in a year (but reviews may not transfer?).  

We look forward to learning more from all of you as well as sharing our knowledge from success to mistakes...

I guess it is the same thing technically to include them as a credit to buyer, but then you should immediately place them in separate bank accounts and not commingle funds as I'm sure you know.  

Bookings have been good, but wondering how we can do better Lessons learned?

Regardless, make sure you buy in an area with...- 10% Pop Growth over the past 10 Years- 10% Job Growth over the past 10 Years- Low Crime- High Appreciation- Manageable Entry Prices- At least 30% Renter PopulationHere's an example of all those rules of thumb with a crime map of Austin, TX.

You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software.

Bookings have been good, but wondering how we can do better Lessons learned?

I like the idea of the fixed long term debt from a risk perspective, but I’m not sure if this is typical of commercial development projects.