When you start looking for multi families, you should look in their areas because they will be the lowest cost property management option.Can you tell me more about your Myrtle beach property, how you found it and how your experience has been with it?

Look into the cost of this for both partners and all the necessary schedules that will need to be generated . 

Again, I envision five families working together to cost share a property. 

That being said, they are extremely costly and expensive and generally do not make sense for smaller transactions. 

Connected to this email is a link of a soft approval letter- does this work?

Only thing I will add is if you rent by the room, you also have to factor in landscaping costs (mowing the grass) and ideally cleaning of common areas (eg weekly cleaning service).  

We are in the process of flipping our primary home and have found costly repairs that are needed, and we simply cannot come up with the needed funds to pull us through when we list in September.

Which would mean that all of my clients funds go into my bank account and I would pay them their net payout (rent less my Mgmt fee, cleaning fee, maintenance costs, taxes) at the end of the month instead of them paying me my Mgmt fee.

I got the owners to agree to pay for a new water heater for the building (about $4000), and $10,000 of seller paid closing costs.

consider the opportunity cost of doing this#1) sell house for cash or to a buyer with their own financing from a bank, etc and you get 315K at time zero, you invest that at historic SP500 8.4% return over last 220 yrs and it grows to $3,541,514.46#2) do owner financing and you get 100k up front that invested at 8.4% grows to $1,250,000, plus you get your payments at $1400 x 360 months or $502k, invested grows to $3,265,000 total including the 1.25 mil aboveso you come out 300k better not doing it and you don't have to service the loan and all the other risksremember banks don't even carry mortgage notes after origination, they dump them onto the US taxpayer via illegal-unconstitutional havens like Fannie/Freddie/HUD, and for last 15 yrs the FED has bought every MBS in the country, which frees up the Banks capital to do it again and make the real money on churning the points and feesplus will next 30 yrs have higher inflation than last 30 yrs?