The problem with not having actual cash in the bank, is most traditional lenders will lead you down the rosy path. 

Finance construction, convert to permanent financing with a traditional 20% down using the equity gained during construction.  

@Manny G.you are negotiating with the seller wrong, and don't feel bad, most people do on terms dealsMost people show the benefits of the lease optionI don't do thatI draw three columns on a piece of legal paper The first column says "selling traditionally with the real estate agent"The second column says "hiring a property manager"The third column says "selling creatively on terms in the state of Louisiana"First column I go over the "costs to sell" with an agent, 6% commission, 2% closing costs, 2% negotiation wiggle room to compete with all the other homes, and sellers concessions that can be 3 to 6%.And I do the math, sellers netting anywhere from 85 to 90% of appraisal.Then I go through hiring a property manager, paying 8 to 10% of collected rent, and dealing with the risks of a bad tenantLastly I go over either lease to own or subject to or wraparound mortgageBut I don't teach the seller how these workYou'll be there all day teaching the seller the inns and outs of contractsThere's five steps in the negotiation of a terms dealOne build rapport with the sellerTwo negotiate an upfront agreement, which means you let them know that at the end of the conversation they can say no if they're not happy with it or yes they are and you can say the same thing, so were either going to get something on paper today or were going to say no it's not a good idea.

The investors I work with typically use traditional financing and are looking to releverage equity via a 1031 exchange while rates are low, putting enough money down to break even, and then rinse and repeat.  

We meet all kinds of people along the way.I would put this in the lesson learned category, and I would let the realtor know about the shadiness...and I would do something else, which is non-traditional and it may not belong here in Bigger Pocket, but I am going to speak on it. 

I've called two dozen local and traditional banks between NYC and Southern tier of NY/Northern Tier of NJ and the most common reasons for not being able to fund are.1) They are a portfolio lender but have a 6 month seasoning requirement just in case they need to sell their loans to Fannie or Freddie2) Do not loan on investment property only primary residence.I've inquired about a line of credit on multiple properties together and they've given me the same reasons, i.e., seasoning requirement and only primary.My Fico is 790 so it is very difficult for me to swallow the fact that i cannot use conventional lending. 

As I don't have a ton of money (or credit) to get started with traditional accumulation of properties so I can rent and landlord (which is what I'd like to eventually do) I've began to entertain the idea of wholesaling, as I imagine many people who are in my position arrive to.

What does refinancing look like when I go to the bank and try to get a traditional 30 year mortgage?

For that area of CoA, Drew is a lottery school and they are districted for the nearby schools, but Kirkwood parents have really pushed and become involved and are making a huge difference in I believe its Coan or the name changed recently.

Property #4 Traditional financing with the Power of networking – As soon as we freed up some cash, we put the word out that we were looking and David came through with a block of four buildings about to go on the market.