Perhaps I don't understand capex, but from the podcasts I've listened to I thought it was to represent what is going to need to be replaced within the years column to be prepared for expenses down the road.

(three months on the mortgages we've applied for) After that you'd have to pay it down for your next down payment anyways, so might as well just save up for the down payment instead of borrow for your strategy as I understand it.

@Csilla Veress A couple of books that may help with understanding PV (present value) calculations, as well as note investing in general, are:Invest in Debt by Jimmy NapierPaper Profits by @Joshua Andrews  (my personal favorite)This blog post by @Mike Hartzog may also be helpful:https://www.biggerpockets.com/blogs/5359/41924-doi...PV is the way most note investors do pricing for performing notes, but for non-performing, you'll want to build an ROI calculator as  @Chris Seveney suggested so you can look at various exit scenarios and take into account costs like servicing, legal fees, insurance, etc. 

As I understand, OR requires a developers license and a GC license in order to build property!

I understand that I won’t really know how it is until they start working on it.

I can’t understand why someone would pay MORE to move in later.

I fully understand Indy can be very block by block, but it would be a good place to start.  

As a parent myself I certainly understand wanting to help your children but the 20 year landlord in me has me skeptical, and frankly I don't like pets in my properties. 

It might be a HELOC card or a home equity deal but get whatever loan you get you understand the terms and fully aware of any negative.  

Good luck Sir.Yes, I understand that.ThanksI'm asking for comparables