I don't want to outsource to a PM company until I have to and I've heard of everything from utilizing handyman services on a retainer to giving the tenant a list of recommended service companies...how do YOU do it?

Its driving up existing home and ranch values in those areas. 

So, you can foreclose on him if he doesn't pay you and you would do that subject to the existing senior lien, which you would have to pay off eventually.Be careful if you become a lien holder and subsequently try to foreclose.

The banks would factor in the pre existing income from the remaining 3 tenants into the size of the loan you would have to carry in order to take ownership of this 4 plex. 

Our consultancy relies on our experience for our expertise plus legal advice to us from law firms we retain or hire.

When you bring up “selling on terms” I think it’s very confusing to most people.So I keep it simple and I don’t use “lease with option” terminology and “subject to existing financing” and “wraparound mortgage all-inclusive trust deed”.The upfront agreement basically talks about what you are willing to do as a business person, and sets the stage for not coming back ever.

You can try a mortgage broker who has access to many wholesale lenders, or a local bank/credit union.Or find alternate means of financing, like pulling a line of credit from an existing property (if possible).Hope this helps.

I cannot tell what size buildings you are evaluating ... there are references to existing duplexes, but nothing else.Secondly CAP is one of the simplest, yet most misused ratios in real estate {I won't get on my soap box this time}.  

They exist is most areas and are a good way to meet people in the business.

The biz LOC may not be attractive for you if your company's gross revenue is low or non existent.