Yes, try the 50% rule at first and then save like heck until you are holding 6 months operating expenses.

The GP needs $10M, plus money for operations and rehab.Might be an opportunity to acquire properties from the GP pre-rehab.

My opinion is that you don't bet against yourself.

It basically states I operate the entire community, all expenses and improvements are on my dime.

You can bet that all the sovereign wealth funds that are making investments in these companies are making a return.

Now the way people throw around the world billion, $50 billion sounds like milk money.I bet with the inflation our country is going to go through after this bailout, you will actually need close to that for milk.

You're not collecting the rent, but still have all the expenses (well, hopefully you don't have to evict yourself, I wouldn't make any bets about your friends)You will never be able to get a loan in an entity without a personal guarantee.

There has been an expediter from the Engineer's office coordinating documents on occasion up until 8/08.Now I have taken over the project and would like to get a clearer idea of what the standard operating procedures are.1.

Getting investor loans done with conventional lenders is tough and will get tougher.Local indy banks as you say are a great alternative. they are called portfolio lenders and they can help because they do not sell their loans to Freddie and Fannie.These small banks and credit unions don't work with brokers so brokers are not your best bet here.If you go to my blog (in my sig) there's a link there to my Portfolio Loan Blueprint that will help.

You should try to find new tenants and you should pay all the bills associated with the vacant rental from the money you've saved from the income that is allocated to paying operating expenses.