A little about me/Current location: Lahaina, Maui Previous home: San DiegoProfession: Digital Marketer (working remote with my dog Richard)Why I'm here: challenge myself to create new revenue stream alongside my 9-5  & invest in my first multifamily or condo rental by the end of 2019Sincerely looking forward to skipping through the forums to learn from first-timers, best practices, ouch moments and meet like-minded people (like you)!

I hear that seller financing is a popular strategy to acquiring an asset without the conventional lending.

Unlike SFR, commercial assets are valued based off of your net operating income (NOI) and Cap Rate.How to Value CRE:  NOI / CapRate.

I would also like to talk about how awesome it is to provide clean, safe housing to others that provides a good value for them and provides a real asset that produces cash flow for those willing to do their homework and put forth the effort.  

For example, if on December 1, 2018 the asset is purchased for $100,000 and before December 31st they made $50,000 of improvements but the property isn't rented out till January 1, 2019, would you start depreciation for the $100,000 (building) and $50,000 (improvements) as of January 1 2019? 

If you don't pay a secured debt they take possession of the pledged asset.

In commercial, they will look at the asset first, then to the investor. 

It is important for you to be comfortable with the asset you are purchasing, then have your PM manage and grow that for you.  

talk to Peak Asset Lending in KC  @Alexander Felice  banks generally wont fool with stuff this low unless you have existing relationships with them.. the cost and risk of having a default far out weight what a bank can make on a 15 to 20k mortgage.but i have seen small local commerial banks do these for local citizens that own 10 to 50 homes and its their cottage industry so to speak

My companies focus on distressed assets which are primarily acquired from asset managers so the scope of our acquisition process is much less complicated.