I would love to hear from you all as to how each of you got started in REI, what kept you all going, financing/negotiating advice for newbies like me, recommendations to find mentors, and other qualified members in your team --- anything you wished someone told you before you started your investing journey --- is helpful and always greatly appreciated.

I'd like to purchase the property and mortgage it to them but I know the mobile park has an HOA fee that as the owner I would have to qualify for but I'm sure that one of the qualifiers is having an income which right now I do not have since I sold my last income property and am looking for another.

If I brought to you a property that you have identified as a property on which you like to make loans, in terms of price and type, and with a borrower that you would consider qualified, what would be an interest rates and terms one might expect?

The more in demand a property is, the more strict the seller should be in qualifying the buyer.  

The fact still stands though that when qualifying for a loan the bank will tell you, you can qualify for X loan amount, and that loan amount is influenced by interest rates as they affect your monthly payments.  

We have a very nice duplex there in a "good" part of the 19th Ward and had a very difficult time renting it to a qualified tenant (someone who didn't smoke, without evictions, could pay a security deposit, etc), let alone a student.

I am pre-qualified, and currently on the prowl for my first property. 

To refinance do the lenders look at my income or rental income is sufficient to qualify for loan? 

But if you engage in an unrelated business such as flipping, as Jim mentioned you need to be aware of the UBIT.3) Under some circumstances this could be possible, be sure to discuss your particular situation with a qualified tax professional. 4) You need to understand the prohibited transactions rules, all of the transactions involving your IRA must be 'arms length',  you nor any other 'disqualified person' can not receive any personal benefits as a result of it and are prohibited from providing any services or do any work on the investment. 

If you’ve been in business for less than two (2) years, you may still qualify for up to $75,000 in unsecured business capital.