Just haven't had to cross this bridge before.  

It happens all over the city, but counting on it to cover upfront costs is a great way to not be able to pay your expenses.

In PA alone there is a 100 year supply, not counting all the gas in the Dakotas, TX, CO and other places.

If you don't impress those with money, you probably won't get it.Any commercial loan can be viewed as a bond, mortgages are exceptions, however you can still cross the line.Partnerships can keep you out of trouble, be a partner not an "investor" in your mind.Fractionalized notes, regardless of intentions of any broker or manager or even the participants, is a very dangerous path to take.

Other misc maintenance I can do myself.I'm counting putting 10% net income into a reserve account ($1,500/year) 2012 property taxes: $1,370.82Total cash outlay: $16,225 + $3,000 = $19,22515 year mortgage at 4.5%Estimate closing costs $3,000 Total Monthly Payment: $561.60 (including taxes & insurance) Last Sale date: October, 1996: $61,900County Value Details Improvement Value Appraised $49,400 taxable $17,290 Land Value Appraised $12,300 taxable $4,310 Total Value Appraised $61700 taxable $21,600 My Thoughts I am assuming a 94% occupancy rate of both units.Rents are average for the area.

Count me in!

I've also walked away from more deals than I could count.

Fingers crossed.

Perhaps the total of all the start-up costs (not counting actual inprovements)?

Do you have other collateral that is available to be cross-collateralized?