I have seen and worked on so many properties for home owners, banks, landlords, other investors..etc... that I just will NOT sit back any longer and waste my time making everyone else RICH with my skills or my military work ethic....I AM READY FOR A LIFE CHANGE!

What you are talking about is a down payment, so if you can get 80% of the property financed at 4.5% and use the LOC for the other 20%, your effective interest rate would be much easier to deal with.

Thanks again guys for all of your valuable insight and readiness to assist as it is because of you guys that this experience has not been a total waste of my time and energy.

I don't waste my time.

No, your lease will remain in effect and pass on to new owners of mineral estate. 

If you only had $20 dollars in your pocket and had not eaten in 2 days, I would advise you to buy and listen to Grant Cardone's audiobook "The Rule of 10X", instead of wasting your money on food.  

There are some new guidelines going into effect in August 2015. 

Just my opinion however.Here is a stabilized look at the property:9,500 market rent (all 14 units at the rents you mention above)- 15% for vacancy, concessions and loss-to-lease = $8,075 effective gross incomesx 50% expenses= $4,037 monthly NOIx 12 months = $48,444 annual [email protected]% cap rate (lowest I'd go in this area) = $569,292

You will learn that many agents do not enjoy working with investors, especially the new ones because they feel you will be wasting their time.

wasting peoples time!!!