Multi-family finance is favorable, always has been, in regards to rate and terms.  

Hi Brent,Multifamily right now most loans are 7 to 10 year terms with a 25 year amort.With multifamily most of the deals on the larger buildings the optimal for my clients is 75% ltv and then have the seller carry a 10% second with favorable terms.

James Finch Do yourself a favor and attend all of your local REIA's, network and meet people actually doing the work in your area.

If the tenants move out you're going to be selling an empty house...you might have to pay for staging in order to get close to what you could sell for with it nicely decorated.All-in-all I think the odds of this working out in your favor are pretty low.

Do yourself a favor and start getting ball park prices from local builders for a 3200 sq ft home, then call a modular company for a price.

If this is your first syndication and you are recruiting investors that haven't invested with you before, it'll have to be a pretty amazing deal to sway the risk/reward equation in your deal's favor.

Percentages say more times than not the prospective tenant is lying outright or by omission.It's human nature to want to paint an innocent picture and slant themselves in a favorable light.

Much more favorable than hard money rates in the area, and I realize now the predicament loaning $ to friends or neighbors put you in.

Do yourself the favor that YOU deserve [and makes me money :)], and say yes to free money.

Do me a favor and don't drive down spring cypress and tell my mom about my wicked laugh - she'll get concerned :)No seriously, I know that area really well, and now that I'm back in the Great State, I want to get into some deals down where I'm comfortable.