I am personally treading water in this area as I have a property I want to use for a non-permitted use.You also mentioned using your retirement funds - if these are in a qualified plan this opens up a whole new can of worms. 

So really, this is a no money down owner financing deal, but the liens have to be paid before we can move forward.I'm looking for $175,000 which will be secured with the 3 multi-families I mentioned above.

Special case, I know, but I mention for the purposes of illustration.  

It seems to be a hybrid form of REI.You earlier mentioned MFR, so I'm curious if that has been more of your focus or do you maintain a mix of SFR and MFR? 

Also as mentioned above, your effective return on a paid-off property is not the best use of that dead equity.Ultimately I think this comes down to your time horizon.

Yes, banks will do longer amortization on loans, but as it was mentioned above, financing small deals like that can be incredibly challenging.

(on a side note, you know the @mention worked when you see the text turn blue.

As I mentioned I am specifically involved in the multi-family space.

She should be able to use the loan for $115,000 and add $30,000 cash from her savings to purchase it.And as mentioned above, you can always look in the areas adjacent to Charlotte for some duplexes and triplexes that might be a little cheaper. 

He mentioned in his email that we would wait for my response fro 3 days until he proceed to take any further actions.