Right by the police station fernades steak house in iron bound.  

If you can get it all ironed out you can get some pretty good deals.

Can anyone assit or guide me in the right direction, I am in the process of buying my first multi family home for investment purpose.

The only problem I have with your purposed situation is the loans for each of the houses. 5 loans is alot in my opinion and makes me feel uncomfortable.

I'd like to brainstorm this type of scenario a little more for my own purposes...

You could have the LLC borrow from someone else, gifting money to a family member and allow them to make the loan.You should also address the purpose of making loans between yourself and your company as they can be tested as to a sham transaction.

Jordan,There are single,double,and triple net leases.The ability to re-purpose the building fast and cheaply is key.Certain corporate tenants with the building design if they go out you have massive costs to get it to a rentable state for another tenant type.Case in point I know a Sonic building that has sat as a foreclosure for a year.To re-purpose it you would have to take out the drive thru stalls and the building itself is so small you can't do much with it.One key area I didn't see touched on is that YES with a TRUE triple net you do not pay for anything.With other single or doubles you might get a little more but pay for expenses so it's almost a wash in the end.The lease is guaranteed and you get mailbox money.The down side is these tenants have rents stay the same amount for long periods of time before any increases and when it does increase the rate is marginal.So when inflation kicks in year after year the returns are diminishing.If you are trying to protect your money they can be an excellent investment.Tell us more about your situation which will help.I like corner locations or right next to the corner as they hold value and are easier to re-purpose and re-rent.Even though the rent doesn't increase as much the land should be way more valuable in time unless the area dies off and growth migrates elsewhere.You can also assume loans at sometimes 90 ltv putting down just 10%.The reason is lenders see these loans as having little risk and low chance of default.I specialize in multi-family and also triple net so contact me with any questions you have.

So, the majority of our time is spent on the MLS, networking with REO agents, and looking at vacant houses.My wife got her license for this purpose, and it has been invaluable...

The purpose, ultimately, of buying these notes is to negotiate with the owner for a deed en lieu or friendly foreclosure.

Ultimately the 680+ borrower who doesn't qualify for a conventional loan will have a hard time stomaching a 10% interest rate with out some other purposeful situation to resolve or deal with.