The challenge w/ this approach, if you're going to buy & hold, is your LLC will not be able to borrow any money.  

The goal of these standards is to ensure the regulatory approach keeps pace with the change in the market.

His thinking as to his goal of paying of other loans may not be the best approach as his payment now in an old loan are contributing more to principal reduction, his real interest expense is declining, even at a higher note rate his cost may be less.

I've been approached to purchase an off market 12 family apartment building in a popular Missouri vacation area.  

Do I approach the owner for any reason- try to see the inside? 

This deal is not going to be accomplished safely as most approach an option to purchase, your agreement could well be 100 pages or more, addressing terms of sale, how liens for advances are applied toward the purchase, your interests acquired prior to other liens filed, insurance assignments, that's not counting lease assignments, attachments of lease terms and conditions, maintenance agreements and schedules, authorization to encumber the property and to pay liens.

Sounds like a reasonable approach to me :) 

You are responsible for maintaining safe and healthy living conditions for whomever is living in your property.

Diary entry 5:  Approaching the deadline.  

In my past 3 houses I did a buy & hold approach successfully, so I'll probably stay with that method.