Whatever you decide get a proper inspection and an appraisal done by a broker or appraiser.

Just a heads up, when working with different partners across different LLC's that are layered, you'll need to invest some time into getting it set up properly. 

Another one 1 is midway through a 203k rehab project on a 4plex that will turn into a BRRRR. 3rd is in the process of looking for a househack but after much deliberation realized that lifestyle is better than cashflow and wants to be outside of Worcester.

Not sure of proper procedure here, just don't want to be inconsiderate given the holiday season so I would like to give them more notice if it is appropriate to do so. 

@Matt Concannon sort of....it's usually 6 months but if you buy it with the proper structure you shouldn't have to wait at all. 

This would take a lot of time to find the right sellers + learn how to execute properly. 

What I mean by that is, if the profits/returns justify the legal costs, then go for it.A general rule of thumb is over 10 investors, it's going to be a security and warrant a properly structured entity for syndication.

It seems vital to ensure it was properly originated.

The loan is based on the ability of the building to generate enough net operating income to cover the loan payment plus 25%.That being said, the lender wants to be sure the buyer / borrower has enough experience to properly run the building.

For my first real estate investment I have access to the funds that would allow me to put 20% down on 2 or 3 $200,000ish Condos.The Condo’s are in good condition and would not need any rehab.Is it smart, stupid, wise, unwise if I purchased the Condos with a 20% down, and rented them out at a proper rental rate (which would be a few hundred dollars higher than the mortgage)???