and will it effect my debt of ratio for us applying the second mortgage in short period of time because even with the first house, our debt ratio is kinda tight. 

The investor receives an interest in the operating partnership in exchange for his or her contribution of the real estate and is now effectively part of the REIT.There are two (2) very big negatives with an upREIT. 

That's why he's willing to pay an effective 120% APR on the money because it is risky.

For most folks, at least in my market, that effectively means that if you make enough to qualify for the mortgage, you make too much for the census tract.FHA is still around at 96.5% LTV.

Sheriff Announces Moratorium on Evictions Effective December 19, 2015 - January 3, 2016 On Thursday, December 15, Sheriff Mark Curran announced a moratorium on all evictions effective December 19, 2015 through January 3, 2016."

It would still be more cost effective to rehab this property, rather than buy an empty lot and build from scratch.  

From other threads I've read, wouldn't you be effectively only LEASING the property until you can exercise your OPTION to buy (at which time you would have to come up with actual funds)?

The terms of this Optional Coverage apply only to loss or damage that occurs:(1) On or after the effective date of this Optional Coverage: and(2) Before the Agreed Value expiration date shown in the Declarations or the policy expiration date, whichever occurs first.Its a bunch of double-talk.

First time posting, long time investor in the Bay Area.As you know, Richmond City Council passed rent control and just eviction, it was suspended, and will probably appear on a general election ballot next year.Any ideas on evicting current tenants (while law is not in effect) and replacing with section 8 tenants.

This was before the SAFE Act was effective.