As much as I love my music, I have basically turned it off and listen to the podcasts whenever I can, and I also learn as much as I can from knowledgable people not only on the site, but in life period.

If the bank calls the loan due, you have a set period of time they give you to pay it (it's not due overnight).

I will then do the pretty stuff over a two year period.

Have you thought about over what period of time you'd like to get to the $4500 a month?

My investor partner on the deal made 48% on his cash in a pretty short period of time.The key to this stuff is knowing in advance what you can do with the property.

A bank is going to look at it and think there is a high probability that you won't be able to refinance at the end of a 5 year fixed term period because you could be looking at refinancing an empty space, which isn't going to happen.

It's a small deal and worst case he makes about 5% on his money in no more than a 3 month period of time, best case he makes about 11% (which, again, is net after acquisition, cost to flip the property, real estate fees, etc.)And yes, I'm fairly new to this so I am open to any and all suggestions on how to structure this.Thanks!

They're most likely to look at hard numbers, give conservative estimates, and put me more where I need to be.I like to talk to Realtors a little later in the process, once I have a pretty solid idea of a ballpark - this serves as both a 'secondary check' and a good time to discuss the level of finishes that are appropriate for the neighborhood.I also would bring the same realtor BACK in at the end, so they can give an accurate pricing point at the end of the day.If I knew a good appraiser, I would bring them in after I was already about 80% sure I was going to be involved the project (likely in the due diligence period).

The lease should state when the rent is due and what the "grace period" is.

The cyclical areas would be better suited for investors looking for larger gains, but over a longer period of time?