But you're earning that income by being the PM.From what I've read here, I think you can do better than that in Houston.

Guess I just love sending my hard earned money over to Bill and his crew in Redmond!

You said it is below market value so you have to make the decision if paying the extra 5K is worth it.

When they do this the bank can end up with loans that have fixed interest rates for 30 years but they might find that they end up paying more than they are earning.

Anyway, I am making very good money as a 50% partner in an Unrelated industry now (with extra cashflow to invest).

I am assuming from what you wrote that he has already organized a bank loan for the development and is looking for investors to meet the extra cash requirements?

If I apply an extra $100 to my principal payment each month I will payoff the mortgage in 25 years instead of 30.

Even then, you shouldn't consider them free, because you could put that money into a bank CD and earn 4-5%.

http://www.builddirect.com/ especially their marble/granite/slate prices....kitchen cabinets....a friend of mine went to lowes, special ordered the cabinets and then canceled the order and they gave her an extra 25% off because of the slumping sales....for equipment try out the pawn shops or again, networking....hubby gets top name stuff from a certain big box store ...he gets the stuff below cost.

Lots of folks will tell you that's equity that's tied up and earning you nothing.