For the most part, standard allonge will include a line stating "Pay to the Order of" and include the new note owner's name.

But that brings another line of thinking: best entity for flipping - there is already an existing BP thread on this matter.

The bottom line is - you need to make money and you need to be conservative.

Basically on the dividing line between Bucktown and Logan Square.

Also OP gave us the number for the debt service, use that to analyze his deal, and suggest he can lower it at the end of analysis.Manuel, I think people are getting tripped up by your terminology, 50% covers all expenses expected over the lifetime of the investment, not just repairs/maintenance, this includes vacancies etc.It's a guideline for rough analysis, but understand it and use it correctly.Edit: OP did mention debt service and TI as separate line items, so my calculations stand asides from Hoa and 50% maintenance cross over.

I'm a student with a very lucrative job lined up after I graduate, but that's not for nearly a year.

Bottom line is that like anything you need to make sure that you’re dealing with a reputable shop that knows what they’re doing.  

My local bank does offer a portfolio line of credit.

Chase or Wells Fargo Business lines of credit.

If surveys are used in your area, that could be a $300-$1000 + expense to verify that the property lines are correct & that the buildings are actually on the property, and title phrase is *really* concerning, because you're effectively required to verify title - which could be an additional expense - with no guarantee the deal will close.