On this particular deal, there is plenty of parking and there is also a lot of raw land behind the existing structure.

We HAVE had things move quickly from city officials getting behind us, but that was with clear discussions and firm commitments.

I'd be interested in house hacking In the future but couldn't currently due to housing commitments.

And yes, we call someone who uses a stolen meter or tampers with a meter- a person commiting a diversion of energy. 

Rehabs are subject to "The Existing Building Code" and the extent of compliance is determined by the percentage of renovation work proposed.

Is there a point when you stop saving money and start paying off existing mortgages faster?

I dont know about Atlanta or GA MSA but there are some banks here in WA these days that go upto 95 or even 100% (according to the flyers I have seen) with a full appraisal and other factors like assets, your financial stmt and other criteria but upto 90% LTV is pretty std I think in most cases for a HELOC on a primary residence and 80%LTV on a cashout on primary residence.If its a rental your only option would be cash out refi @75%LTV as HELOCs on an inv prop are virtually non existent anymore after 2008/2009 market crash but you never know.

64 units X 500 a month = 32,000 X 12 months = 384,000 gross(Take away 60% of expected revenue for vacancy, property management, evictions, expenses, etc.)384,000 X .60 = 230,400384,000 -230,400 = 153,600 expected NOI153,600/2,125,000 = 7.2 cap rateThis is IF there is not existing deferred issues with the property.

Happy Friday - Thought I'd pick your brain on the financing terms I was just presented by a local bank:Per his email:Interest rates would be 5.125% for three years or 5.50% for five years; 20 year amortization and .50% commitment fee.We can look to underwrite and approve with 20% down payment if using 100% of your own funds <or> 25% down payment if obtaining a 10% seller second mortgage (15% coming from you).So,I currently own 6 properties (12 Units) with them, financed under a similar structure, that I purchased back in May.Looking to purchase an additional 22 Units contingent on bank financing, so before I move forward, what are your thoughts on this? 

You will want to make sure that the beam above supporting the roof is in good condition as wellif you are trying to fix the columns using similar materials, you will want to make sure the existing block is structurally sound.