We are also in the middle of a major renovation in a large duplex.

Jacob we are seeing anything from mid 6's to mid 7's. 

My partners and I recently (6 months ago) purchased a commercial building which we are also operating a business out of.

I wanted to share my story...it's stories like this that kept me motivated and I hope it can do the same for those on the sidelines or those getting started.It's been 7 months and we are about nearly finished with the rehab to our first multifamily complex we picked up in April.

We are looking at purchasing 80% of the property by doing a 1031 Exchange by selling another parcel of vacant land.

  ( oh and to back up we could never serve her so we went for a summary judgement and lost that)  Judge made us advertise .. that cost a bundle.. so now here we are 2 plus years later.. 

Anything under 6 months and it's considered a delayed finance, and cash out is at 70LTC.LTC = what it cost you per the closing statementLTV = what it apppraises for after stabilizing the propertyThat's just my lender, I'm sure that other lenders do it differently and that's why we are encouraged to call all the banks to line up financing before buying.

The tenant may think we are clueless to what the current market rent is but they end up providing us notice. 

I would definitely buy REO again, I enjoyed taking the house no one wanted to touch and making something beautiful out of it.

Enjoy!