So instead of paying the bank for a home equity line of credit on my first home and paying them interest, I was able to use a personal loan to myself via my employer 403b and pay myself back with interest. 

- Loan Type and Liability: Implications of personal vs.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I believe the most cost effective strategy would be to get a private loan from someone to purchase with cash.

The best option is to proceed with a cash-out refinance utilizing a DSCR loan. you can grab up to 75%LTV all by using the current tenant's lease agreements to cover the debt service requirement.

When you go above 4 units you get into a different loan program that offers less leverage, has stricter guidelines, higher rates.I'd stay right in the lane you are in. 

After calculating all of the properties, the average cap rate is around 5% and the COC ROI is always negative (I am putting down 25% for a DSCR loan).

They will be snobby about the neighborhood and wouldn't do the loan if it wasn't a nice area, and only on 1950 or newer properties, but you don't have to be a Texan to get this loan on a Texas apartment building, so they're picky about the property.

As for appliances the Detroit Land Bank lists Sam's Appliances but I've never dealt with them and their website's security cert is expired.

Can someone share insight on a standard or common structure for loan terms when you are a private lender?