Take a photo of it.Call the number you have on file for the tenant and leave a voicemail if they do not answer.

For the 'passive part' we are just now working on structuring a couple of Private Investor deals where an outside investor could use *their* Self Directed Account to bring the down payments and partner with us doing *all* of the finding, purchasing, PM, etc... so their part would be totally passive. 

I figured that at least a private lender could do it. 

Financing & Deal Structure: Purchase Price: $1,550,000Bank Financing: $1,162,500 of Purchase Price at closing Financed by: South Shore BankInterest: 5.46 %Points: 0.75 PtsInterest Reserves: $60,000Closing Costs: $23,000Terms: 25 Year Amortization 10 Year term.5 Year fixed.Down Payment at Closing: $400,000 Private Investor + Own CashActual Rehab Cost: $385,000Summary: Purchase Price: $1,550,000Rehab: $385,000ARV 3 Unit: $2,000,000ARV 4 Unit: $2,400,000 Appraised values came in at $2,300,000 for 4 unit with lower rent roll projections given.Equity Created: $500k+Projected Monthly Rent Roll: $15,500/monthProjected Monthly Cashflow: $2,328/monthProjected CAP Rate: 

Any private money lenders in ms?

Private lender(family member) How did you add value to the deal?

It is seller mortgaged at 85% and the 15% down payment and closing costs were paid for using a private loan.

Private lender(family member) How did you add value to the deal?

I upped my offer by 3k, wrote a personal letter with a family photo, (did this because when speaking to the listing agent I found out the tenants cried when they learned the current owners were selling, so I knew emotion might be in play and wanted to let them know we are a young local family that care about our tenants). 

My follow up question is this: If I am using private money for purchase and rehab costs, the private money loan + interest should be less than 126k so that it can be paid off by the refinance?