@Seth Chase there is no need to do anything with the new mortgage other than keep making payments.

@Corey Dickens I think @Chase Louderback was referring to going to a community bank/Credit Union and getting a commercial loan that the bank would hold and service themselves. 

Why chase the same deals that everyone else knows about.  

Comps in the area are anywhere between $700k-1.5m but this house has been chasing the market down because it was priced way too high at first.

Once you get bogged down chasing leads and talking to unmotivated sellers you can have trouble getting your next mailing out, and that hurts your whole project.3.

@Leah DunnellsThis is my system for keeping track of expenses and making tax time less of a pain.1)  I keep a "Temporary" folder where I put receipts for supplies, repairs, and maintenance which I have already paid but still need to document for taxes2)  Along with the temporary folder I collect any bills coming in from the utility companies3)  Every 2 weeks sit down and pay utility bills through Chase Bill Pay4)  Once bills are paid I will document both the receipts in the temporary folder (step 1) and the bills I just paid (step 3) in my spreadsheet5)  Spreadsheet is in the form of a Schedule E with all the same sections to make taxes easy at the end of the year. 

Be a bird dog and find the deals for other apartment buyers. 6.

I saw everyone who grew up on my street go to prison and get caught up in a life of crime.So for me I had a hunger to do better for my life than that so in my life and I chased the following:EducationCareer Strong nuclear family unitTravelingHobby's (which includes real estate)So If you read this story and grew up in a life of privilege then you may be saying I should stop and smell the roses, but if you're a hungry young man or woman from lesser means then you better leave that little village your and do what you need to do to get there. 

How do you pay your Bird Dogs?

I will find county websites and chase down commercial zoning approvals and where they've been approved for.