so we finally get possession of our duplex we won at auction. legally, the company we went through to get deed said, we cannot talk to anyone or enter the property until the 30 day eviction is up. so this Saturday is the day the we willl go over and get a locksmith to enter.my wife found out from neighbor there is a 20 year long tenant upstairs but the owner lived in lower unit.

The lower unit  looks like the bedroom was an  addition and the building for does not have a backdoor.

We know the growth is faster and the taxes are lower in DC but the monthly payments will be higher.

I would like this person to be well versed in rental properties, both residential and commercial, and know the ins and outs of owning a business as it relates to lowering my tax burden.  

Our properties in the Midwest are all large apartment buildings worth north of $4mil so we are looking for a solution that has a lower interest rate of course than credit cards and allows to pay off the balance each month in full and of course pay back the line of credit (or similar) at less interest. 

Also, is 25% the standard or is there a lower percentage for refinancing.

Client will be able to cash out lower loan amount under this program or portfolio lending.

TIA.If you want this house (that's the first question) and it has some cosmetic deficiencies and it's in a great neighborhood, I would offer him a lower sales price (like 30% lower if that's more in line with what the property will appraise for), take his financing if:there is no prepayment penalty and it's 100% financing the cash flow is acceptableand then refinance it with a lower rate product with no seasoning on title or wait out the conventional seasoning period and refinance it with a Fannie Mae loan. 

Agents further East or south of me need to have more than one.Sounds like in tx there is a lower barrier to entry to be a solo broker.

And in addition, one month lost is actually 8.3% vacancy (more than budgeted) so our CoC is lowered further to 3% ($600 annual or $50/month).