If it was not assumable, we would do a subject to or wrap around loan and I would sign.In some instances, there was already a first mortgage to an institutional lender, and a second mortgage to an additional company or previous seller.

My very first meeting with lenders, I had mapped various sample financial deals (one for each lender) from the biggerpocket.com calculator, printed them in pdf color and showed the lender that I had an understanding/command of certain business terms (cash on cash, IRR, ...etc). 

Hi @Lavette Pittman ,If memory serves correct, Sprout is an intermediary that connects you to the actual financial institutions that provide the funds, and they get a commission on you attaining those LOC.

Paying bills and recording financials.2.

My financial models show 15% cash on cash return on a $950K investment for 65% of the equity. 

However, if it makes big financial sense to refinance within 6 months, maybe can I even pay some penalty voluntarily to make up for the loss of the original lender?

I have some financial analysis I've done to help get some tax liens in the NW suburbs where I live.  

But this scenario also gives me the flexibility to not have to do that in an financial emergency, or sock away more cash flow towards the next investment.Any pitfalls I am missing here?

Hi BP,I've recently discovered this community and am very thankful because I feel I was able to course correct my mindset before I made my first big financial decision in real estate.

It makes me wonder if all the hype around "house hacking" and financial independence is driving the hype even higher and encouraging more millennials to jump in.