After further investigation it was found that this was mold growing up through the locking joint.

Seems to me that after a certain point you'd have to stay locked into another lending method which makes the strategy less optimum.

However, I am currently searching for a great house hack so that I can lock in these historic interest rates for 30 years.

I paid the lender two points up front and locked in the rate at 4.5%.The Numbers Monthly Income - $2,320Monthly Expenses (including PITI, 5% Vacancy, 5% Repairs, 3% Cap Ex, 10% Prop Mgmt, Water & Garbage)- $1662.59Monthly CashFlow - $657.41Total Cash Invested - $62,187Cash on Cash ROI -12.69%Cap Rate - 8.61%Lessons LearnedI had all kinds of challenges with the lender and communication.  

Guess what you just got higher rent just by using a strategy, vs locking yourself into what every other landlord does. 

Trying to get something locked down before Feb 22nd since my credit has been pulled already. 

Thoughts on this format: them (P1) not investing anything, but preferred 5% return / return of capital in 2-3 years, even split after between them and the investors___________________________specifics: all units are currently rented, some grossly under rent (3000 sq comm space 1100/mo, some 1 beds 500/mo)initial invest 615,000, year 2 110,000 additionalROI sale 5 years = 59%; 10 years = 120% --> capital only locked up for 24-36 months thoughcurrent rent ~20k/mo - 244k / yearyear 1 cashflow (after expense/debt) = 73k; investor cum = -541year 2 = 94K - 110k additional investment; investor cum = -556year 3 = refinance cash flow 585,000 + 117 NOI --> investor cash flor + 667 based on 5% pref return adn 50/50 split of excess to distribute; investor cumulative +120,000years 4-sell time cashflow 67,000 and up each year - cash flow split so adding 33,000-45,000 to cumulative each year; projected net proceeds from  sale at year 10 = 1 million after debt + cashflow (~94k split = 47k)= ~ 550,000+; cumulative cash flow ~ 900,000 at year 10 on 630,000 invested and capital returned in 24-36 moSeems like a pretty good deal, doesn't seem amazing, what are your thougths on this format?

If so, and you can get all the necessary info during the walk through then sure go ahead and make an offer and get it locked up. 

There are smart lock (Rently) solutions out there that make showing a lot easier. 2.

Lock the door on the way out the unit and wish them good luck.