I'm also busy managing other people's properties and wouldn't be able to spend tons of time with a maybe prospect.

Mike Batir:Welcome to the forum.I suggest that you spend some time, reading the following:http://www.biggerpockets.com/forums/52-rental-property-questions-landlording-issueshttp://www.biggerpockets.com/forums/52/topics/18371-help-me-understand-this-deal-and-5-2-ruleRaymond

Finally, I would look to make real cuts to our budget and everything would be open for discussion, including military spending, social programs, etc.

I would recommend spending as much time learning as possible then make an educated decision on your situation.

Hi Nick,What are you spending most of your time doing (short sales, buyers, investors)?

Why would the bank not extend my loan?

What are the rents and how much do you need to spend to get there?

I have already extended their lease agreement 6 months so I think I have been more then generous.

He will also continue to receive the scholarship money to use towards other investments for the next three years.Originally, he was spending a lot of time with me looking at owner financed properties.

So, if I put 70k out to purchase and spend 30 on materials and labor I am in 100k.