There aren't many "deals" to be found anymore.I make about $80-90k depending on my bonus so I'm not sure what amount of credit I'd qualify for outside of a conventional loan for the loft.

It's an off market deal and the owner has his brother as realtor and they just aren't very open with information critical to the proofing of my analysis step.  

If I were you I would hold on to the condo until you can sell it for more and meet your goal of paying off your primary.It sounds like you aren’t in desperate need of the $ now and are basically breaking even - those margins should keep getting better each year as you raise rent and let tenants continue to pay off the loan for you.

@Chris Pohlson get educated on commercial/mfam and financing associated with the asset class. there's more scale and the financing (debt and equity) can become easier. 

@Stephanie Potter he's not married but I have thrown the idea at him to put any of the properties he's done refinancing into an LLC so they aren't in his name and we could go conforming.

I'm excited to finally have my first question after a few months of poking around BP and trying to educate myself! 

I'll take this event as an investment in my real estate education.

Don't be afraid to call some local lenders and get some education! 

There are a bunch of newbies paying for all these education programs that promise you'll get rich with no money and no knowledge of real estate. 

I'm from Florida there is tons of opportunity there and its good for business owners when you retire regarding taxes given the fact that there aren't any state taxes and the homestead exemption is literally limitless if the estate is under 1 acre.