It took some serious shopping around to find a lender to do the deal. 

If you get a break down it's easier to start shopping around and checking numbers otherwise you never know if he's just trying to get you to start the work and then raise estimates as the project progresses.

The ones I see lower are for 1st position only.I don't think 8% is a terrible rate for a 2nd position mortgage right now, IMO at least.Hi, I have not shopped around much, but I did get a lower quote 6.4%.

When I was shopping, that's what I was looking at.

I@Larry WilsonMaybe shop the submetering to a few more plumbers/contractors to see if you can know the price down.

Purchase price: $110,000 Cash invested: $30,000 4 unit c class apt- under market rents Crime report was clean Bus stop in local proximityLocal shopping and other necessities close as well Professionally managedProperty Details: 1/1- 500sq feet eachNo AC or window units currently in any units One vacant Base board heatSepertely meteredTenant pay water/ electricReplacement windowsCurrent tenants keep their units nice, they have just been underserved by the previous owners and their units needs some repair Professionally managed with current leases and deposits in placeWith it being a quad all tenants have a trash can ( no expense for a dumpster) REPAIRS NEEDED: 2 subfloor repairs needed in 2 units, flat roof needs minimal repair, 3 waters heaters need replaced, about $1,000 allocated for any plumbing repair, bracing underneath as needed or where any joist are weak.

I shopped a few apps like RentRedi and that seemed to be a highly recommended piece of software. 

But give them 90 days notice so they have plenty of time to shop the market and see they are still getting a good deal.

A newer master-planned community at Viera has new shops, hospital, school, churches, plus single and multifamily going up like mushrooms.The Port at Canaveral was recently deepened and widened to accommodate larger cruise ships & cargo can offloaded now, Space-X is busy with regular frequent launches, and the military-industrial side is hiring engineers--Northrup has its new Center of Excellence for Manned Flight.

I am reading about them to make sure i understand what i need to look for when shopping for one as an investor.