It's a good price point for entry-level landlords and creating turnkey properties can become a lucrative business for you down the road if you learn it now.I would tell your family it's risky but the risk is backed by real estate and the worst case scenario is that only 50% of their money may be returned - come prepared you're asking for their money so they have the right to question and examine all of your ideas and assumptions. 

I welcome information anyone will share on a package you have prepared for presenting to a commercial lender: narrative summary, project details, etc.Thank you

The basic numbers seem ok, I personally like a larger ROI on paper as in reality things always come up to eat your profits.Be prepared for a battle to evict those 2 tenants, expect additional costs there.Are those market rents you plan to raise to?  

I don't know a whole lot about portfolio loans other than the lender holds the note and the borrower can do/get other types of creative financing.

I'm a newbie looking for info on creative investing.

Time to get creative when looking for places. 

At that point I will look for more creative solutions to continue growing my portfolio. 

Still looking for my first property, so I'm absorbing as much information as possible, preparing myself as much as I can before I get the first-hand experience, and the lessons that come with.More importantly, I'm really looking to network, and meet people in all aspects of real estate in different markets.

As long as it is cash flowing, just be thankful, and look for other creative ways to finance the new property!

(TEAM - Together Everybody Achieves More)Anyways, I'm super excited to talk about our successes as a group because I think it helps underline THREE VERY IMPORTANT POINTS:#1 - Be Creative When Faced With ObstaclesYou think you're having a difficult time investing where you live?